Stevens Capital Management LP Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Stevens Capital Management LP purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,389 shares of the apparel retailer's stock, valued at approximately $1,438,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. HTLF Bank acquired a new position in Ross Stores in the fourth quarter valued at approximately $1,094,000. Raymond James & Associates boosted its holdings in shares of Ross Stores by 5.7% in the 4th quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer's stock valued at $41,832,000 after buying an additional 16,167 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Ross Stores in the 3rd quarter valued at $503,000. Federated Hermes Inc. raised its stake in Ross Stores by 160.7% during the 4th quarter. Federated Hermes Inc. now owns 164,876 shares of the apparel retailer's stock worth $22,817,000 after acquiring an additional 101,628 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Ross Stores by 20.3% in the fourth quarter. Handelsbanken Fonder AB now owns 159,116 shares of the apparel retailer's stock valued at $22,020,000 after acquiring an additional 26,868 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROST has been the subject of several research reports. Barclays boosted their target price on Ross Stores from $160.00 to $163.00 and gave the company an "overweight" rating in a report on Wednesday, March 6th. BMO Capital Markets raised their target price on shares of 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 increased their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Ross Stores from $150.00 to $163.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group lifted their target price on Ross Stores from $135.00 to $147.00 and gave the company a "hold" rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.21.

Insider Buying and Selling at Ross Stores

In other news, Director Patricia H. Mueller sold 2,265 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now owns 1,914 shares of the company's stock, valued at approximately $278,257.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael K. Kobayashi sold 13,860 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the transaction, the insider now owns 61,657 shares in the company, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.00% of the company's stock.

Ross Stores Trading Up 1.1 %

Shares of NASDAQ ROST traded up $1.46 on Friday, reaching $133.61. 1,958,373 shares of the company traded hands, compared to its average volume of 1,993,171. The stock has a market capitalization of $44.99 billion, a PE ratio of 24.03, a P/E/G ratio of 1.89 and a beta of 1.04. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $142.78 and a 200 day moving average of $135.26.

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

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.3675 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a yield of 1.10%. This is a boost from Ross Stores's previous quarterly dividend of $0.34. Ross Stores's dividend payout ratio (DPR) is presently 26.44%.

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

About Ross Stores

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.