Rhumbline Advisers Acquires 17,933 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Rhumbline Advisers increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 664,621 shares of the apparel retailer's stock after acquiring an additional 17,933 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Ross Stores worth $84,932,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ROST. Price T Rowe Associates Inc. MD increased its position in Ross Stores by 25.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Geode Capital Management LLC grew its position in Ross Stores by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 8,287,162 shares of the apparel retailer's stock valued at $1,250,423,000 after purchasing an additional 135,117 shares during the period. FMR LLC raised its holdings in Ross Stores by 11.9% during the fourth quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock worth $1,152,690,000 after buying an additional 807,850 shares during the last quarter. Norges Bank acquired a new position in shares of Ross Stores during the fourth quarter valued at about $649,318,000. Finally, Invesco Ltd. raised its holdings in shares of Ross Stores by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,805,427 shares of the apparel retailer's stock worth $575,647,000 after acquiring an additional 154,486 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ROST shares. JPMorgan Chase & Co. dropped their target price on Ross Stores from $161.00 to $141.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company dropped their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Evercore ISI dropped their price target on Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Loop Capital lowered their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Barclays decreased their price objective on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Ross Stores Price Performance

Shares of ROST stock traded down $0.27 during trading hours on Thursday, reaching $142.24. The stock had a trading volume of 1,612,253 shares, compared to its average volume of 2,708,509. The firm has a market capitalization of $46.77 billion, a PE ratio of 22.40, a PEG ratio of 2.13 and a beta of 1.17. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The stock's fifty day simple moving average is $140.44 and its 200 day simple moving average is $142.91. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. During the same period in the prior year, the business posted $1.46 EPS. Ross Stores's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.14%. Ross Stores's payout ratio is presently 25.59%.

Insider Buying and Selling at Ross Stores

In related news, CMO Karen Sykes sold 5,036 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the transaction, the chief marketing officer now directly owns 110,365 shares of the company's stock, valued at $14,400,425.20. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Balmuth sold 11,261 shares of Ross Stores stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the sale, the chairman now directly 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. Insiders sold 34,398 shares of company stock valued at $4,439,950 in the last 90 days. Insiders own 2.20% of the company's stock.

Ross Stores Company Profile

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.