Ross Stores, Inc. (NASDAQ:ROST) Position Increased by Nexus Investment Management ULC

Nexus Investment Management ULC grew its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,470 shares of the apparel retailer's stock after buying an additional 11,010 shares during the quarter. Ross Stores accounts for about 4.8% of Nexus Investment Management ULC's portfolio, making the stock its 8th largest holding. Nexus Investment Management ULC owned about 0.08% of Ross Stores worth $31,880,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Ross Stores during the fourth quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD grew its holdings in Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at about $230,204,000. Finally, Royal Bank of Canada grew its stake in shares of Ross Stores by 69.6% in the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after buying an additional 1,368,571 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now owns 94,063 shares of the company's stock, valued at approximately $11,826,540.99. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Karen Sykes sold 5,036 shares of Ross Stores stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the completion of the transaction, the chief marketing officer now directly owns 110,365 shares in the company, valued at approximately $14,400,425.20. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is currently owned by company insiders.

Ross Stores Price Performance

Shares of NASDAQ ROST traded up $0.85 during mid-day trading on Tuesday, hitting $143.27. 945,460 shares of the company's stock traded hands, compared to its average volume of 2,704,970. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company's 50-day moving average is $139.80 and its two-hundred day moving average is $142.91. The company has a market capitalization of $47.11 billion, a P/E ratio of 22.56, a PEG ratio of 2.13 and a beta of 1.17.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping 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 firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, June 10th. Ross Stores's dividend payout ratio (DPR) is presently 25.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their price objective on Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Robert W. Baird dropped their target price on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Evercore ISI dropped their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Telsey Advisory Group reissued a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research note on Friday, May 23rd. Finally, Barclays reduced their price objective on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $158.67.

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.