BI Asset Management Fondsmaeglerselskab A S Purchases 16,783 Shares of Ross Stores, Inc. $ROST

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Ross Stores, Inc. by 152.6% during the first quarter, now owning 27,781 shares valued at approximately $3.55 million.
• Several institutional investors also adjusted their positions in Ross Stores, with Fuller & Thaler Asset Management increasing its holdings by 25.8%, bringing its total to 139,759 shares valued at $17.86 million.
• Analysts' consensus rating for Ross Stores is a "Moderate Buy" with a consensus target price of $159.06, reflecting a mix of ratings from "Strong Buy" to "Hold".

BI Asset Management Fondsmaeglerselskab A S lifted its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 152.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,781 shares of the apparel retailer's stock after buying an additional 16,783 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ross Stores were worth $3,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baird Financial Group Inc. grew its stake in shares of Ross Stores by 274.3% in the fourth quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer's stock valued at $3,096,000 after buying an additional 14,998 shares in the last quarter. Deutsche Bank AG boosted its position in Ross Stores by 42.0% during the fourth quarter. Deutsche Bank AG now owns 1,276,799 shares of the apparel retailer's stock worth $193,141,000 after purchasing an additional 377,554 shares during the period. Sowell Financial Services LLC bought a new position in Ross Stores during the first quarter worth $328,000. Aurdan Capital Management LLC bought a new position in Ross Stores during the fourth quarter worth $8,516,000. Finally, Aurora Private Wealth Inc. bought a new position in Ross Stores during the first quarter worth $1,476,000. 86.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Telsey Advisory Group reissued a "market perform" rating and set a $160.00 target price (up previously from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Cowen reissued a "buy" rating on shares of Ross Stores in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday. Robert W. Baird raised their target price on shares of Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. Finally, Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ross Stores presently has a consensus rating of "Moderate Buy" and an average target price of $160.00.

Ross Stores Price Performance

Shares of Ross Stores stock traded up $0.04 during midday trading on Tuesday, hitting $147.49. 677,647 shares of the company traded hands, compared to its average volume of 3,132,727. The stock has a market cap of $48.24 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.79 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The firm's fifty day moving average price is $136.42 and its 200-day moving average price is $137.15. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's dividend payout ratio is presently 25.71%.

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.