Captrust Financial Advisors Sells 400 Shares of Ross Stores, Inc. (ROST)
Captrust Financial Advisors reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the apparel retailer’s stock after selling 400 shares during the quarter. Captrust Financial Advisors’ holdings in Ross Stores were worth $197,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ROST. Bollard Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $29,000. Moody National Bank Trust Division purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $30,000. Berman Capital Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $32,000. Finally, Legacy Financial Advisors Inc. increased its position in shares of Ross Stores by 114.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 413 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 220 shares in the last quarter. Institutional investors own 89.44% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Credit Suisse Group boosted their price objective on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. BidaskClub cut Ross Stores from a “hold” rating to a “sell” rating in a research report on Wednesday. Loop Capital set a $100.00 price objective on Ross Stores and gave the company a “buy” rating in a research report on Tuesday, November 20th. Finally, MKM Partners cut their price objective on Ross Stores from $98.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $97.42.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be paid a dividend of $0.255 per share. The ex-dividend date is Wednesday, March 6th. This represents a $1.02 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.23. Ross Stores’s payout ratio is 21.13%.
Ross Stores declared that its board has authorized a share buyback program on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Ross Stores news, Chairman Michael Balmuth sold 25,689 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the transaction, the chairman now owns 51,998 shares of the company’s stock, valued at $4,719,858.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.
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Ross Stores Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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