Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,498 shares of the apparel retailer's stock after acquiring an additional 10,764 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Ross Stores were worth $16,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ROST. Larson Financial Group LLC lifted its holdings in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in Ross Stores during the 4th quarter worth $31,000. Putney Financial Group LLC purchased a new position in Ross Stores during the 4th quarter worth $44,000. Cary Street Partners Financial LLC acquired a new stake in shares of Ross Stores in the 4th quarter worth $48,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $53,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Karen Sykes sold 5,036 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were 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 owns 110,365 shares of the company's stock, valued at $14,400,425.20. This represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the stock in a transaction dated 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 transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. The trade was a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Ross Stores Stock Performance

NASDAQ ROST opened at $127.90 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The business has a fifty day moving average of $139.69 and a 200-day moving average of $140.53. The stock has a market cap of $41.83 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.69 and a beta of 1.14.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted 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 firm 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 firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. As a group, 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 announced 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. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. Ross Stores's dividend payout ratio (DPR) is currently 25.59%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ROST shares. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $141.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Wells Fargo & Company cut their target price on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. BMO Capital Markets decreased their price target on Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Loop Capital dropped their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Finally, Robert W. Baird reduced their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.53.

About Ross Stores

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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