Mirae Asset Global Investments Co. Ltd. Purchases 25,507 Shares of Ross Stores, Inc. $ROST

Key Points

• Mirae Asset Global Investments increased its stake in Ross Stores by 19.5%, buying 25,507 shares to hold 156,117 shares worth about $28.1 million at quarter-end.
• Ross beat Q4 expectations (EPS $2.00 vs. $1.90; revenue $6.64B vs. $6.42B), raised its quarterly dividend to $0.445 ($1.78 annualized), and several analysts lifted price targets, leaving a consensus rating of Moderate Buy.

Mirae Asset Global Investments Co. Ltd. increased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,117 shares of the apparel retailer's stock after buying an additional 25,507 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ross Stores were worth $28,123,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. American National Bank & Trust bought a new stake in Ross Stores during the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Ross Stores by 7,000.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer's stock worth $26,000 after acquiring an additional 140 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Ross Stores during the third quarter worth $29,000. City Holding Co. grew its position in shares of Ross Stores by 1,080.0% during the 4th quarter. City Holding Co. now owns 177 shares of the apparel retailer's stock valued at $32,000 after purchasing an additional 162 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 148 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Performance

Shares of ROST stock opened at $227.82 on Friday. Ross Stores, Inc. has a one year low of $124.49 and a one year high of $228.71. The company's 50-day moving average is $210.07 and its 200 day moving average is $186.07. The company has a market capitalization of $73.39 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 3.02 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.58.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.10. The business had revenue of $6.64 billion during the quarter, compared to analysts' expectations of $6.42 billion. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Sell-side analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, March 13th. This is an increase from Ross Stores's previous quarterly dividend of $0.41. Ross Stores's dividend payout ratio (DPR) is presently 26.93%.

Wall Street Analyst Weigh In

ROST has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on Ross Stores from $215.00 to $232.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Wells Fargo & Company increased their price objective on Ross Stores from $205.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Weiss Ratings restated a "buy (b)" rating on shares of Ross Stores in a report on Wednesday, April 8th. Zacks Research lowered shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, Barclays boosted their price objective on shares of Ross Stores from $205.00 to $221.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $208.29.

Insider Activity at Ross Stores

In other news, CMO Karen Sykes sold 5,506 shares of the business's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $213.40, for a total value of $1,174,980.40. Following the completion of the transaction, the chief marketing officer owned 104,648 shares in the company, valued at $22,331,883.20. The trade was a 5.00% decrease in their ownership of the stock. 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 15,813 shares of the company's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $214.91, for a total value of $3,398,371.83. Following the transaction, the chief operating officer directly owned 116,028 shares in the company, valued at approximately $24,935,577.48. The trade was a 11.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 25,756 shares of company stock valued at $5,521,004. 2.20% of the stock is owned by corporate insiders.

Ross Stores Company Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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