Aurdan Capital Management LLC Buys New Stake in Ross Stores, Inc. (NASDAQ:ROST)

Aurdan Capital Management LLC acquired a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 56,294 shares of the apparel retailer's stock, valued at approximately $8,516,000. Ross Stores makes up approximately 3.3% of Aurdan Capital Management LLC's investment portfolio, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Ross Stores in the 4th quarter worth about $649,318,000. Price T Rowe Associates Inc. MD grew its holdings in Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC grew its holdings in Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock worth $360,204,000 after purchasing an additional 2,352,543 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Ross Stores during the fourth quarter valued at approximately $230,204,000. Finally, Royal Bank of Canada increased its stake in shares of Ross Stores by 69.6% during the fourth quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after purchasing an additional 1,368,571 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Shares of ROST stock traded down $0.77 during trading hours on Thursday, reaching $138.93. The company had a trading volume of 3,913,685 shares, compared to its average volume of 2,709,368. 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 business has a fifty day moving average price of $139.07 and a 200-day moving average price of $142.90. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The firm has a market cap of $45.68 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17.

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

Ross Stores Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores's dividend payout ratio (DPR) is presently 25.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ROST shares. JPMorgan Chase & Co. cut their price target on Ross Stores from $161.00 to $141.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a report on Friday, May 23rd. Morgan Stanley cut their target price on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a report on Thursday, April 3rd. Finally, Evercore ISI lowered their price target on Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Five 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Buying and Selling at Ross Stores

In other news, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were 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 owns 59,790 shares of the company's stock, valued at $7,868,364. This represents a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. The trade was a 5.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is owned by company insiders.

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.