Bayesian Capital Management LP Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Bayesian Capital Management LP purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 39,114 shares of the apparel retailer's stock, valued at approximately $5,917,000. Ross Stores makes up approximately 0.7% of Bayesian Capital Management LP's holdings, making the stock its 16th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Ross Stores in the 4th quarter valued at $649,318,000. Price T Rowe Associates Inc. MD raised its position in shares of Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after buying an additional 3,995,760 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Ross Stores in the fourth quarter worth about $230,204,000. Finally, First Trust Advisors LP boosted its position in Ross Stores by 411.3% during the fourth quarter. First Trust Advisors LP now owns 1,458,963 shares of the apparel retailer's stock worth $220,697,000 after acquiring an additional 1,173,607 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Down 0.7 %

Shares of Ross Stores stock traded down $1.03 during trading on Friday, hitting $142.34. 1,023,603 shares of the stock were exchanged, compared to its average volume of 2,648,044. The firm's 50-day moving average price is $133.90 and its 200 day moving average price is $142.37. The stock has a market cap of $46.80 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is 25.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ROST. Barclays set a $150.00 target price on Ross Stores in a report on Wednesday, March 5th. Wells Fargo & Company raised Ross Stores from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, April 8th. Robert W. Baird cut their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target on the stock in a research report on Thursday, April 3rd. Finally, Loop Capital cut their price objective on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.73.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. This represents a 15.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,398 shares of company stock valued at $4,439,950 in the last ninety days. Insiders own 2.20% of the company's stock.

Ross Stores Company 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.