Meeder Asset Management Inc. Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)

Meeder Asset Management Inc. boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 61.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 138,242 shares of the apparel retailer’s stock after purchasing an additional 52,545 shares during the period. Ross Stores makes up about 1.3% of Meeder Asset Management Inc.’s holdings, making the stock its 19th biggest holding. Meeder Asset Management Inc.’s holdings in Ross Stores were worth $20,288,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after acquiring an additional 73 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Ross Stores by 9.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock valued at $127,000 after acquiring an additional 76 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Ross Stores by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock valued at $710,000 after acquiring an additional 80 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 83 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Price Performance

Shares of NASDAQ:ROST traded down $3.65 during midday trading on Monday, reaching $148.08. 2,472,163 shares of the company’s stock traded hands, compared to its average volume of 2,266,168. Ross Stores, Inc. has a 1 year low of $108.35 and a 1 year high of $153.06. The company has a market cap of $49.40 billion, a P/E ratio of 24.97, a PEG ratio of 2.66 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The company has a fifty day simple moving average of $142.09 and a two-hundred day simple moving average of $141.28.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts predict that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, June 11th. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ROST shares. Morgan Stanley lifted their target price on Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Wells Fargo & Company upped their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Barclays upped their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, May 24th. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a report on Friday, June 14th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.06.

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.