Asset Management One Co. Ltd. grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,688 shares of the apparel retailer's stock after purchasing an additional 6,659 shares during the period. Asset Management One Co. Ltd.'s holdings in Ross Stores were worth $17,723,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP increased its stake in Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after acquiring an additional 74 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Ross Stores by 2.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock worth $470,000 after purchasing an additional 79 shares during the last quarter. Opal Wealth Advisors LLC lifted its position in Ross Stores by 5.6% during the first quarter. Opal Wealth Advisors LLC now owns 1,598 shares of the apparel retailer's stock valued at $204,000 after purchasing an additional 85 shares during the last quarter. Mountain Pacific Investment Advisers LLC grew its stake in Ross Stores by 1.1% in the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 9,200 shares of the apparel retailer's stock worth $1,176,000 after buying an additional 100 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Ross Stores by 0.3% in the 4th quarter. MML Investors Services LLC now owns 29,684 shares of the apparel retailer's stock worth $4,490,000 after buying an additional 102 shares during the last quarter. Institutional investors own 86.86% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on ROST shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a research report on Friday, May 23rd. Robert W. Baird dropped their price target 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. Loop Capital cut their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company decreased their price objective on Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, Morgan Stanley cut their target price on 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. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.53.
Check Out Our Latest Stock Analysis on ROST
Ross Stores Trading Up 1.2%
Shares of ROST stock traded up $1.46 during mid-day trading on Friday, reaching $128.08. The stock had a trading volume of 591,692 shares, compared to its average volume of 2,780,483. The firm has a market capitalization of $41.89 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.68 and a beta of 1.14. The stock's 50-day moving average price is $139.92 and its two-hundred day moving average price is $140.91. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. 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 released 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 business had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Equities analysts expect that Ross Stores, Inc. will post 6.17 earnings per share 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. Investors of record on Tuesday, June 10th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores's dividend payout ratio (DPR) is currently 25.59%.
Insider Transactions at Ross Stores
In related news, CMO Karen Sykes sold 5,036 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the completion of the transaction, the chief marketing officer now directly owns 110,365 shares in the company, valued at approximately $14,400,425.20. The trade was a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the sale, the chairman now directly owns 59,790 shares of the company's stock, valued at approximately $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. Insiders sold 21,567 shares of company stock worth $2,812,024 over the last quarter. 2.20% of the stock is currently owned by insiders.
About Ross Stores
(
Free Report)
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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