Qsemble Capital Management LP Raises Stake in Ross Stores, Inc. $ROST

Key Points

• Qsemble Capital Management LP increased its stake in Ross Stores by 48.2% in the fourth quarter, buying 7,753 more shares to hold 23,838 shares valued at about $4.29 million.
• Ross Stores reported strong quarterly results, with earnings of $2.00 per share and revenue of $6.64 billion, both beating analyst expectations. Revenue rose 12.2% year over year.
• The company also raised its quarterly dividend to $0.445 per share from $0.41, while analysts currently maintain an overall Moderate Buy rating on the stock.

Qsemble Capital Management LP raised its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 48.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,838 shares of the apparel retailer's stock after buying an additional 7,753 shares during the quarter. Qsemble Capital Management LP's holdings in Ross Stores were worth $4,294,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Ross Stores by 7,000.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer's stock worth $26,000 after purchasing an additional 140 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in shares of Ross Stores during the 3rd quarter worth $29,000. City Holding Co. grew its holdings 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 worth $32,000 after purchasing an additional 162 shares during the period. JFS Wealth Advisors LLC grew its holdings in shares of Ross Stores by 42.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 211 shares of the apparel retailer's stock worth $38,000 after purchasing an additional 63 shares during the period. Finally, Salomon & Ludwin LLC grew its holdings in shares of Ross Stores by 89.0% during the 4th quarter. Salomon & Ludwin LLC now owns 223 shares of the apparel retailer's stock worth $42,000 after purchasing an additional 105 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $212.75 on Friday. The business has a 50-day moving average of $218.48 and a 200 day moving average of $194.97. Ross Stores, Inc. has a 12 month low of $124.49 and a 12 month high of $231.16. The stock has a market capitalization of $68.54 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.10. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The company had revenue of $6.64 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same period last year, the business posted $1.65 EPS. Ross Stores's revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 7.33 earnings per share for the current year.

Ross Stores Increases Dividend

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

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research analyst reports. UBS Group set a $208.00 price target on Ross Stores in a report on Thursday, March 5th. JPMorgan Chase & Co. increased their price target on Ross Stores from $215.00 to $232.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Zacks Research cut Ross Stores from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. Wells Fargo & Company increased their price target on Ross Stores from $205.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Finally, Guggenheim reiterated a "buy" rating and set a $290.00 price target on shares of Ross Stores in a report on Monday, April 27th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.29.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 1,881 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total transaction of $400,897.53. Following the completion of the transaction, the director directly owned 2,159 shares in the company, valued at $460,147.67. This trade represents a 46.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 15,813 shares of the firm's stock in a transaction dated 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 owned 116,028 shares of the company's stock, valued at $24,935,577.48. This trade represents a 11.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 25,756 shares of company stock worth $5,521,004 in the last three months. 2.10% of the stock is owned by company insiders.

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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