Cresset Asset Management LLC Has $3.53 Million Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Cresset Asset Management LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 62.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,342 shares of the apparel retailer's stock after selling 38,074 shares during the period. Cresset Asset Management LLC's holdings in Ross Stores were worth $3,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in Ross Stores by 10.5% in the 4th quarter. Cetera Investment Advisers now owns 43,426 shares of the apparel retailer's stock valued at $6,569,000 after buying an additional 4,139 shares during the period. Cercano Management LLC purchased a new stake in Ross Stores in the fourth quarter valued at approximately $16,729,000. Bridgefront Capital LLC purchased a new stake in Ross Stores in the fourth quarter valued at approximately $1,183,000. Captrust Financial Advisors increased its position in Ross Stores by 0.6% during the fourth quarter. Captrust Financial Advisors now owns 31,648 shares of the apparel retailer's stock worth $4,787,000 after purchasing an additional 188 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in Ross Stores during the fourth quarter worth approximately $48,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ROST. Wells Fargo & Company upgraded Ross Stores from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, April 8th. Loop Capital reduced their target price on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on Ross Stores from $166.00 to $161.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Citigroup raised 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, BMO Capital Markets lowered their price target on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $161.20.

Insider Activity at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the transaction, the chief marketing officer now owns 94,063 shares in the company, valued at $11,826,540.99. The trade was a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the transaction, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. This represents a 5.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,398 shares of company stock worth $4,439,950. 2.20% of the stock is owned by corporate insiders.

Ross Stores Stock Performance

ROST stock traded up $6.98 during mid-day trading on Monday, reaching $149.26. The company had a trading volume of 2,663,101 shares, compared to its average volume of 2,655,994. The stock's 50-day simple moving average is $134.02 and its two-hundred day simple moving average is $142.31. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The stock has a market capitalization of $49.08 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.13 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (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 analysts' expectations of $5.95 billion. Research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is presently 25.63%.

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.