Ross Stores, Inc. (NASDAQ:ROST) Shares Bought by Earnest Partners LLC

Earnest Partners LLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 505,465 shares of the apparel retailer's stock after purchasing an additional 100,843 shares during the period. Earnest Partners LLC owned 0.15% of Ross Stores worth $76,462,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after acquiring an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth about $31,000. ORG Partners LLC lifted its holdings in shares of Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Ross Stores during the 4th quarter worth about $51,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth about $57,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

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

Ross Stores Price Performance

ROST opened at $139.71 on Monday. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The company's 50-day moving average price is $133.37 and its 200 day moving average price is $142.68. The company has a quick ratio of 0.98, a current ratio of 1.57 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 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. As a group, sell-side analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.16%. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

Several research firms recently commented on ROST. Sanford C. Bernstein restated a "market perform" rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Morgan Stanley cut their price target on shares of 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 cut 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 report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target 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. Finally, Wells Fargo & Company upgraded shares of Ross Stores from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $140.00 to $150.00 in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.87.

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.

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