Assenagon Asset Management S.A. Boosts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Assenagon Asset Management S.A. lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,696 shares of the apparel retailer's stock after purchasing an additional 19,623 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ross Stores were worth $8,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings 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 in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores in the fourth quarter valued at approximately $31,000. Putney Financial Group LLC bought a new position in Ross Stores in the 4th quarter valued at approximately $44,000. Cary Street Partners Financial LLC bought a new stake in Ross Stores during the 4th quarter worth approximately $48,000. Finally, Kestra Investment Management LLC acquired a new position in Ross Stores in the 4th quarter valued at approximately $51,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the transaction, the chairman now directly owns 59,790 shares in the company, valued at $7,868,364. This represents a 15.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Karen Sykes sold 5,036 shares of Ross Stores stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the sale, the chief marketing officer now owns 110,365 shares of the company's stock, valued at approximately $14,400,425.20. This trade represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,059 shares of company stock worth $3,768,677 in the last three months. Corporate insiders own 2.20% of the company's stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST traded up $0.19 during mid-day trading on Monday, reaching $132.04. The company had a trading volume of 374,690 shares, compared to its average volume of 2,725,101. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The company's 50-day moving average price is $141.73 and its 200-day moving average price is $142.42. The firm has a market cap of $43.19 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.13 and a beta of 1.14.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, June 10th. Ross Stores's payout ratio is 25.59%.

Analyst Ratings Changes

A number of analysts recently weighed in on ROST shares. Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective for the company in a report on Thursday, April 3rd. Barclays lowered their price target on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Morgan Stanley lowered their target price on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their price target on Ross Stores from $141.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Robert W. Baird dropped their price objective on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $159.53.

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.