Ross Stores, Inc. $ROST is Kerusso Capital Management LLC's 3rd Largest Position

Key Points

• Kerusso Capital Management LLC increased its position in Ross Stores by 25.9% in Q4 to 34,750 shares, making it the firm's 3rd-largest holding at roughly 2.9% of the portfolio and valued at $6.26 million.
• Ross beat quarterly expectations with $2.00 EPS vs. $1.90 expected and $6.64 billion in revenue (up 12.2% YoY), and analysts project about $7.32 EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.445 (from $0.41), while multiple brokerages lifted price targets and ratings, leaving a consensus "Moderate Buy" with an average target of $208.29.

Kerusso Capital Management LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,750 shares of the apparel retailer's stock after acquiring an additional 7,140 shares during the quarter. Ross Stores makes up approximately 2.9% of Kerusso Capital Management LLC's portfolio, making the stock its 3rd biggest position. Kerusso Capital Management LLC's holdings in Ross Stores were worth $6,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Ross Stores by 1.9% in the third quarter. Bank of America Corp DE now owns 9,762,583 shares of the apparel retailer's stock valued at $1,487,720,000 after purchasing an additional 180,182 shares during the period. Viking Global Investors LP grew its holdings in shares of Ross Stores by 9.9% in the second quarter. Viking Global Investors LP now owns 4,747,639 shares of the apparel retailer's stock valued at $605,704,000 after purchasing an additional 426,370 shares in the last quarter. Invesco Ltd. increased its stake in Ross Stores by 5.7% during the 3rd quarter. Invesco Ltd. now owns 4,655,932 shares of the apparel retailer's stock worth $709,518,000 after buying an additional 252,284 shares during the period. First Trust Advisors LP increased its stake in Ross Stores by 10.2% during the 3rd quarter. First Trust Advisors LP now owns 4,045,346 shares of the apparel retailer's stock worth $616,470,000 after buying an additional 375,470 shares during the period. Finally, Marshfield Associates lifted its holdings in Ross Stores by 4.1% during the 3rd quarter. Marshfield Associates now owns 4,020,413 shares of the apparel retailer's stock worth $612,671,000 after buying an additional 157,385 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Up 0.3%

NASDAQ ROST opened at $226.92 on Friday. Ross Stores, Inc. has a 52 week low of $124.49 and a 52 week high of $230.44. The firm has a 50 day moving average of $212.73 and a two-hundred day moving average of $188.11. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $73.10 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92.

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

Ross Stores Increases Dividend

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

Analyst Ratings Changes

Several brokerages have commented on ROST. The Goldman Sachs Group raised their price target on shares of Ross Stores from $214.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ross Stores in a research note on Wednesday, April 8th. Barclays lifted their target price on Ross Stores from $205.00 to $221.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Telsey Advisory Group reissued an "outperform" rating and set a $240.00 target price on shares of Ross Stores in a research note on Thursday, March 26th. Finally, Wells Fargo & Company upped 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. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ross Stores presently has an average rating of "Moderate Buy" and a consensus price target of $208.29.

Insider Buying and Selling at Ross Stores

In other news, CMO Karen Sykes sold 5,506 shares of the 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 transaction, the chief marketing officer owned 104,648 shares in the company, valued at approximately $22,331,883.20. This represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael J. Hartshorn sold 15,813 shares of the 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 completion of the transaction, the chief operating officer owned 116,028 shares in the company, valued at approximately $24,935,577.48. The trade was a 11.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,756 shares of company stock worth $5,521,004 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

Ross Stores Profile

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.