Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,180 shares of the apparel retailer's stock after selling 27,074 shares during the quarter. New York Life Investment Management LLC's holdings in Ross Stores were worth $6,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ROST. Robeco Institutional Asset Management B.V. increased its stake in Ross Stores by 33.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 37,280 shares of the apparel retailer's stock worth $4,211,000 after acquiring an additional 9,271 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Ross Stores in the 3rd quarter worth approximately $469,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Ross Stores by 1.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 109,195 shares of the apparel retailer's stock worth $12,334,000 after purchasing an additional 1,982 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ross Stores by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,077,953 shares of the apparel retailer's stock worth $347,655,000 after purchasing an additional 44,722 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Ross Stores by 1.3% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 165,200 shares of the apparel retailer's stock worth $18,659,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 86.86% of the company's stock.

Analysts Set New Price Targets

ROST has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on Ross Stores from $138.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on Ross Stores from $150.00 to $163.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. Barclays lifted their target price on Ross Stores from $160.00 to $163.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. The Goldman Sachs Group lifted their target price on Ross Stores from $143.00 to $163.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Finally, UBS Group boosted their price objective on Ross Stores from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Four 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 company presently has an average rating of "Moderate Buy" and an average price target of $155.21.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 1,914 shares of the company's stock, valued at $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the firm's stock in a transaction on Monday, March 18th. The stock was 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 $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 21,056 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now directly owns 114,488 shares of the company's stock, valued at approximately $16,616,788.32. 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. 2.10% of the stock is currently owned by insiders.

Ross Stores Price Performance

Shares of Ross Stores stock traded up $3.16 during mid-day trading on Friday, reaching $130.84. 3,732,505 shares of the stock traded hands, compared to its average volume of 2,069,616. The business has a 50-day moving average of $141.50 and a 200 day moving average of $135.71. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The stock has a market capitalization of $44.05 billion, a PE ratio of 23.53, a PEG ratio of 1.82 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

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

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 14th. This is a boost from Ross Stores's previous quarterly dividend of $0.34. Ross Stores's dividend payout ratio (DPR) is currently 26.44%.

Ross Stores declared that its board has initiated a share repurchase program on Tuesday, March 5th that permits the company to buyback $2.10 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership 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.