Benchstone Capital Management LP Buys Shares of 133,730 Ross Stores, Inc. (NASDAQ:ROST)

Benchstone Capital Management LP purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 133,730 shares of the apparel retailer's stock, valued at approximately $20,229,000. Ross Stores comprises about 2.1% of Benchstone Capital Management LP's portfolio, making the stock its 28th largest position.

A number of other large investors have also modified their holdings of ROST. Larson Financial Group LLC grew its position in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in Ross Stores in the 4th quarter worth approximately $31,000. ORG Partners LLC increased its position in Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC bought a new stake in Ross Stores during the 4th quarter valued at $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Ross Stores during the 4th quarter worth $53,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Insider Activity

In related news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction on Monday, March 17th. The stock was 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 owns 94,063 shares of the company's stock, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 11,261 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares in the company, valued at $7,868,364. This trade represents a 15.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,398 shares of company stock worth $4,439,950 in the last 90 days. Company insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROST. Citigroup upgraded shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective on the stock in a research note on Thursday, April 3rd. Robert W. Baird reduced their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of Ross Stores from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. UBS Group cut their target price on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Loop Capital lowered their price target on Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ross Stores presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.87.

Ross Stores Price Performance

ROST stock opened at $140.49 on Friday. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The firm has a 50-day moving average of $133.59 and a two-hundred day moving average of $142.50. The firm has a market capitalization of $46.20 billion, a PE ratio of 22.12, a P/E/G ratio of 2.13 and a beta of 1.11. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

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

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.15%. The ex-dividend date 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%.

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.

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