Lazard Asset Management LLC Grows Position in Ross Stores, Inc. (NASDAQ:ROST)

Lazard Asset Management LLC lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 65.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,881 shares of the apparel retailer's stock after purchasing an additional 37,800 shares during the period. Lazard Asset Management LLC's holdings in Ross Stores were worth $14,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hahn Capital Management LLC lifted its stake in shares of Ross Stores by 40.9% in the fourth quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after acquiring an additional 21,500 shares during the period. Baird Financial Group Inc. lifted its stake in Ross Stores by 274.3% in the fourth quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer's stock valued at $3,096,000 after buying an additional 14,998 shares during the period. FMR LLC lifted its stake in Ross Stores by 11.9% in the fourth quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock valued at $1,152,690,000 after buying an additional 807,850 shares during the period. Sovran Advisors LLC acquired a new position in Ross Stores in the fourth quarter valued at approximately $269,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Ross Stores by 22.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock valued at $431,000 after buying an additional 524 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Up 0.7%

Ross Stores stock traded up $1.03 during trading on Friday, hitting $152.92. 2,064,967 shares of the company were exchanged, compared to its average volume of 2,651,682. The business's 50 day moving average is $135.64 and its 200 day moving average is $142.61. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a market capitalization of $50.28 billion, a P/E ratio of 24.08, a PEG 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 (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $0.405 per share. This is a boost from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a yield of 1.06%. Ross Stores's dividend payout ratio is 25.63%.

Insider Buying and Selling

In other Ross Stores news, CMO Karen Sykes sold 5,036 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total value of $657,097.28. Following the sale, the chief marketing officer now owns 110,365 shares of the company's stock, valued at $14,400,425.20. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael Balmuth sold 11,261 shares of the firm's stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,398 shares of company stock valued at $4,439,950. Corporate insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a research note on Friday. StockNews.com raised Ross Stores from a "hold" rating to a "buy" rating in a research note on Tuesday. UBS Group dropped their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley dropped their price target on Ross Stores from $130.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, BMO Capital Markets lowered their target price on Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.53.

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.