Pictet Asset Management Holding SA Has $26.47 Million Holdings in Ross Stores, Inc. $ROST

Key Points

• Pictet Asset Management raised its stake in Ross Stores by 4.3% to 146,940 shares valued at $26.47 million, while institutional investors own about 86.86% of the company's stock.
• Insider selling has been notable: insiders sold 25,756 shares worth $5.52 million in the last 90 days, including COO Michael Hartshorn and CMO Karen Sykes, with insiders now owning 2.10% of shares.
• Ross beat Q4 expectations with $2.00 EPS versus $1.90 and $6.64 billion in revenue (up 12.2% YoY), and the company raised its quarterly dividend to $0.445 ($1.78 annual, 0.8% yield).

Pictet Asset Management Holding SA raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,940 shares of the apparel retailer's stock after buying an additional 6,040 shares during the period. Pictet Asset Management Holding SA's holdings in Ross Stores were worth $26,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in Ross Stores during the 3rd quarter worth about $1,411,000. Amica Mutual Insurance Co. acquired a new position in shares of Ross Stores in the 3rd quarter valued at about $4,790,000. Thrivent Financial for Lutherans boosted its position in shares of Ross Stores by 84.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 227,340 shares of the apparel retailer's stock valued at $34,645,000 after purchasing an additional 104,270 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ross Stores by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,610 shares of the apparel retailer's stock worth $19,904,000 after acquiring an additional 7,338 shares in the last quarter. Finally, Financial Planning Hawaii Inc. acquired a new stake in Ross Stores in the 4th quarter valued at $1,542,000. Institutional investors own 86.86% of the company's stock.

Insider Activity

In other news, COO Michael J. Hartshorn sold 15,813 shares of the stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the completion of the transaction, the chief operating officer owned 116,028 shares in the company, valued at approximately $24,935,577.48. This represents a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Karen Sykes sold 5,506 shares of Ross Stores stock in a transaction dated 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 sale, the chief marketing officer directly owned 104,648 shares of the company's stock, valued at approximately $22,331,883.20. This trade represents a 5.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,756 shares of company stock valued at $5,521,004 in the last 90 days. Insiders own 2.10% of the company's stock.

Ross Stores Stock Up 1.2%

ROST opened at $227.79 on Friday. Ross Stores, Inc. has a twelve month low of $124.49 and a twelve month high of $230.44. The company's 50-day moving average price is $215.51 and its two-hundred day moving average price is $190.74. The stock has a market cap of $73.38 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 3.07 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.10. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The company had revenue of $6.64 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. Ross Stores's revenue was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Ross Stores, Inc. will post 7.32 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Ross Stores's previous quarterly dividend of $0.41. Ross Stores's payout ratio is currently 26.93%.

Wall Street Analyst Weigh In

ROST has been the subject of a number of recent research reports. Sanford C. Bernstein set a $200.00 price objective on Ross Stores in a report on Wednesday, March 4th. Barclays upped their price target on Ross Stores from $205.00 to $221.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Zacks Research cut Ross Stores from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. Citigroup lifted their price objective on shares of Ross Stores from $224.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group upped their target price on shares of Ross Stores from $214.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and an average target price of $212.06.

About Ross Stores

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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