Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Nexus Investment Management ULC

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

A number of other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. bought a new position in shares of Ross Stores during the 4th quarter worth about $31,000. Putney Financial Group LLC acquired a new stake in shares of Ross Stores during the 4th quarter valued at about $44,000. Cary Street Partners Financial LLC bought a new stake in Ross Stores in the fourth quarter valued at about $48,000. Finally, Kestra Investment Management LLC acquired a new position in Ross Stores in the fourth quarter worth about $51,000. Institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective for the company in a report on Thursday, April 3rd. BMO Capital Markets decreased their price objective on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a research note on Friday, May 23rd. Finally, Loop Capital cut their target price on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Five investment 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 stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Ross Stores Stock Up 0.7%

Shares of Ross Stores stock traded up $0.92 during trading hours on Friday, reaching $139.85. 4,225,878 shares of the company's stock were exchanged, compared to its average volume of 2,710,336. The stock has a market cap of $45.99 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.13 and a beta of 1.17. 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, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The company has a 50 day moving average of $139.50 and a two-hundred day moving average of $142.89.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a yield of 1.16%. Ross Stores's dividend payout ratio (DPR) is 25.59%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the transaction, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. This trade represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 in the company, valued at approximately $11,826,540.99. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,398 shares of company stock worth $4,439,950 over the last ninety days. Insiders own 2.20% of the company's stock.

Ross Stores 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.