Northern Trust Corp Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)

Northern Trust Corp grew its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,572,823 shares of the apparel retailer's stock after buying an additional 386,838 shares during the quarter. Northern Trust Corp owned 1.08% of Ross Stores worth $540,461,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its holdings in Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer's stock valued at $588,000 after purchasing an additional 70 shares in the last quarter. Forum Financial Management LP lifted its stake in shares of Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after buying an additional 74 shares in the last quarter. Alhambra Investment Management LLC boosted its position in Ross Stores by 5.2% during the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer's stock worth $234,000 after acquiring an additional 76 shares during the last quarter. Key Financial Inc grew its stake in Ross Stores by 13.2% during the 4th quarter. Key Financial Inc now owns 662 shares of the apparel retailer's stock valued at $100,000 after acquiring an additional 77 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in Ross Stores by 2.6% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock valued at $470,000 after acquiring an additional 79 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup raised Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a report on Thursday, April 3rd. Morgan Stanley reduced their price target on Ross Stores from $140.00 to $130.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Telsey Advisory Group lowered their price target on shares of Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets cut their price objective on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ross Stores from $166.00 to $161.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.87.

Ross Stores Stock Up 1.1 %

Shares of ROST stock traded up $1.56 during trading on Friday, reaching $140.49. The company's stock had a trading volume of 2,133,454 shares, compared to its average volume of 2,658,989. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The stock's 50-day moving average price is $133.59 and its 200 day moving average price is $142.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.13 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. The firm had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. On average, research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is currently 25.63%.

Insider Buying and Selling at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now owns 94,063 shares in the company, valued at approximately $11,826,540.99. This represents a 5.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the transaction, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock worth $4,439,950 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

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.