Ross Stores, Inc. (NASDAQ:ROST) Stock Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,116 shares of the apparel retailer's stock after purchasing an additional 26,868 shares during the quarter. Handelsbanken Fonder AB's holdings in Ross Stores were worth $22,020,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC increased its position in Ross Stores by 14.4% during the fourth quarter. CWM LLC now owns 7,690 shares of the apparel retailer's stock worth $1,064,000 after buying an additional 968 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Ross Stores by 1.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,513 shares of the apparel retailer's stock worth $4,223,000 after buying an additional 396 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Ross Stores during the fourth quarter worth approximately $231,000. Signaturefd LLC increased its position in Ross Stores by 9.1% during the fourth quarter. Signaturefd LLC now owns 5,655 shares of the apparel retailer's stock worth $783,000 after buying an additional 473 shares during the period. Finally, abrdn plc increased its position in Ross Stores by 65.6% during the fourth quarter. abrdn plc now owns 143,970 shares of the apparel retailer's stock worth $19,924,000 after buying an additional 57,022 shares during the period. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analyst Ratings Changes

ROST has been the topic of several research analyst reports. BMO Capital Markets lifted their price target on Ross Stores from $138.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th. Robert W. Baird boosted their target price on Ross Stores from $145.00 to $162.00 and gave the company an "outperform" rating in a report on Wednesday, March 6th. UBS Group boosted their target price on Ross Stores from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Evercore ISI boosted their target price on Ross Stores from $155.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their target price on Ross Stores from $143.00 to $163.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.21.

Insider Activity

In other news, Director Patricia H. Mueller sold 2,265 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Brian R. Morrow sold 10,734 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the sale, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia H. Mueller sold 2,265 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the transaction, the director now owns 1,914 shares of the company's stock, valued at $278,257.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock worth $10,396,178 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Ross Stores Price Performance

ROST traded down $0.68 during trading on Tuesday, reaching $133.09. 2,590,107 shares of the stock were exchanged, compared to its average volume of 1,984,072. The business's 50 day moving average price is $143.47 and its two-hundred day moving average price is $135.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The company has a market capitalization of $44.81 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.90 and a beta of 1.04. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. Ross Stores's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.3675 dividend. This is an increase from Ross Stores's previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, March 14th. Ross Stores's dividend payout ratio is currently 26.44%.

Ross Stores declared that its board has approved a stock buyback plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.