Royal Bank of Canada Has $504.68 Million Stake in Ross Stores, Inc. (NASDAQ:ROST)

Royal Bank of Canada grew its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 69.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,336,312 shares of the apparel retailer's stock after buying an additional 1,368,571 shares during the period. Royal Bank of Canada owned 1.01% of Ross Stores worth $504,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP grew its stake in shares of Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after purchasing an additional 74 shares during the period. Alhambra Investment Management LLC lifted its holdings 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 in the last quarter. Key Financial Inc lifted its holdings in Ross Stores by 13.2% during the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer's stock worth $100,000 after acquiring an additional 77 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Ross Stores by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock worth $470,000 after acquiring an additional 79 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Ross Stores by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,983 shares of the apparel retailer's stock valued at $451,000 after purchasing an additional 89 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

NASDAQ ROST traded down $0.02 during trading on Tuesday, reaching $154.24. 2,166,600 shares of the company's stock were exchanged, compared to its average volume of 2,644,478. The business has a 50 day moving average price of $136.20 and a 200-day moving average price of $142.75. The stock has a market capitalization of $50.72 billion, a P/E ratio of 24.29, a PEG ratio of 2.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60.

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

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $0.405 dividend. This is an increase from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.05%. Ross Stores's dividend payout ratio is presently 25.63%.

Analyst Ratings Changes

ROST has been the topic of a number of research reports. Telsey Advisory Group restated a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a report on Friday. UBS Group cut their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Barclays boosted their price target on Ross Stores from $150.00 to $157.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Robert W. Baird cut their price target on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Finally, Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target on the stock in a report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.53.

Insider Activity

In other news, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the transaction, the chairman now owns 59,790 shares of the company's stock, valued at approximately $7,868,364. This represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Karen Fleming sold 5,339 shares of the company'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 value of $671,272.47. Following the completion of the transaction, the chief marketing officer now directly owns 94,063 shares in the company, valued at $11,826,540.99. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is owned by insiders.

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.