Fairtree Asset Management Pty Ltd Acquires Shares of 4,319 Ross Stores, Inc. (NASDAQ:ROST)

Fairtree Asset Management Pty Ltd purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,319 shares of the apparel retailer's stock, valued at approximately $653,000.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Ross Stores by 25.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after purchasing an additional 3,995,760 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ross Stores by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 8,287,162 shares of the apparel retailer's stock valued at $1,250,423,000 after purchasing an additional 135,117 shares during the last quarter. FMR LLC raised its position in shares of Ross Stores by 11.9% in the 4th quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock valued at $1,152,690,000 after purchasing an additional 807,850 shares during the last quarter. Norges Bank purchased a new position in shares of Ross Stores in the 4th quarter valued at approximately $649,318,000. Finally, Invesco Ltd. raised its position in shares of Ross Stores by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,805,427 shares of the apparel retailer's stock valued at $575,647,000 after purchasing an additional 154,486 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of NASDAQ ROST traded up $0.92 during midday trading on Friday, reaching $139.85. 4,225,878 shares of the stock were exchanged, compared to its average volume of 2,712,365. The firm has a market cap of $45.99 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.13 and a beta of 1.17. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The firm has a 50-day simple moving average of $139.27 and a two-hundred day simple moving average of $142.88. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The business 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 business's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. As a group, analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.405 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a yield of 1.16%. Ross Stores's dividend payout ratio is currently 25.59%.

Wall Street Analysts Forecast Growth

ROST has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $150.00 price objective on shares of Ross Stores in a research report on Friday, May 23rd. Robert W. Baird decreased their price objective on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets decreased their price objective on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at approximately $17,760,529.79. This trade represents a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Balmuth sold 11,261 shares of the firm's stock in a transaction on 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 completion of the transaction, the chairman now owns 59,790 shares in the company, valued at $7,868,364. The trade was a 15.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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 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.