Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Ross Stores, Inc. $ROST

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,189 shares of the apparel retailer's stock after buying an additional 31,375 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Ross Stores worth $134,246,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROST. GSA Capital Partners LLP purchased a new position in Ross Stores in the 3rd quarter worth approximately $1,411,000. Amica Mutual Insurance Co. purchased a new position in Ross Stores in the 3rd quarter worth approximately $4,790,000. Thrivent Financial for Lutherans lifted its stake in Ross Stores by 84.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 227,340 shares of the apparel retailer's stock worth $34,645,000 after purchasing an additional 104,270 shares in the last quarter. Financial Planning Hawaii Inc. purchased a new position in Ross Stores in the 4th quarter worth approximately $1,542,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Ross Stores by 6.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,610 shares of the apparel retailer's stock worth $19,904,000 after purchasing an additional 7,338 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ross Stores

In related news, CMO Karen Sykes sold 5,506 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $213.40, for a total value of $1,174,980.40. Following the completion of the sale, the chief marketing officer owned 104,648 shares in the company, valued at approximately $22,331,883.20. This trade represents a 5.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Hartshorn sold 15,813 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the completion of the sale, the chief operating officer owned 116,028 shares of the company's stock, valued at $24,935,577.48. This trade represents a 11.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,756 shares of company stock worth $5,521,004. Insiders own 2.10% of the company's stock.

Ross Stores Stock Up 0.7%

ROST stock opened at $228.91 on Thursday. The firm has a market cap of $73.74 billion, a PE ratio of 34.63, a PEG ratio of 3.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.58. The firm's 50 day moving average price is $216.57 and its 200-day moving average price is $192.25. Ross Stores, Inc. has a one year low of $124.49 and a one year high of $230.44.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.90 by $0.10. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $1.65 EPS. On average, equities research analysts anticipate that Ross Stores, Inc. will post 7.32 EPS for the current year.

Ross Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ROST shares. Weiss Ratings reissued a "buy (b)" rating on shares of Ross Stores in a research note on Wednesday, April 8th. UBS Group set a $208.00 target price on shares of Ross Stores in a research note on Thursday, March 5th. The Goldman Sachs Group lifted their price target on shares of Ross Stores from $214.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Citigroup lifted their price target on shares of Ross Stores from $224.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company lifted their price target on shares of Ross Stores from $205.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Ross Stores currently has an average rating of "Moderate Buy" and a consensus target price of $212.06.

Ross Stores 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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