Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,545,273 shares of the apparel retailer's stock after selling 48,051 shares during the quarter. Ross Stores accounts for about 3.0% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 19th biggest position. EdgePoint Investment Group Inc. owned 0.77% of Ross Stores worth $385,023,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hahn Capital Management LLC grew its stake in Ross Stores by 40.9% in the fourth quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after purchasing an additional 21,500 shares in the last quarter. FMR LLC grew its stake in Ross Stores by 11.9% in the fourth quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock worth $1,152,690,000 after purchasing an additional 807,850 shares in the last quarter. Sovran Advisors LLC bought a new position in Ross Stores in the fourth quarter worth approximately $269,000. Oppenheimer & Co. Inc. boosted its position in Ross Stores by 22.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock valued at $431,000 after acquiring an additional 524 shares in the last quarter. Finally, Oak Ridge Investments LLC boosted its position in Ross Stores by 10.6% during the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock valued at $17,524,000 after acquiring an additional 11,060 shares in the last quarter. Institutional investors own 86.86% of the company's stock.

Insiders Place Their Bets

In other news, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the sale, the chief marketing officer now directly owns 94,063 shares in the company, valued at $11,826,540.99. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Balmuth sold 11,261 shares of the firm'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 sale, the chairman now owns 59,790 shares in the company, valued at $7,868,364. This trade represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,398 shares of company stock valued at $4,439,950. Company insiders own 2.20% of the company's stock.

Ross Stores Stock Performance

ROST stock traded up $6.98 during midday trading on Monday, reaching $149.26. The stock had a trading volume of 2,663,101 shares, compared to its average volume of 2,655,994. The stock has a market cap of $49.08 billion, a PE ratio of 23.51, a P/E/G ratio of 2.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The firm has a fifty day simple moving average of $134.02 and a two-hundred day simple moving average of $142.31. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its 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. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ROST shares. Barclays increased their target price on Ross Stores from $150.00 to $157.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley dropped their target price on Ross Stores from $130.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Loop Capital dropped their target price 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. Robert W. Baird dropped their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Finally, Evercore ISI decreased their price objective on Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $161.20.

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.