Bank of Nova Scotia Purchases 214,209 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Bank of Nova Scotia grew its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 501.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,896 shares of the apparel retailer's stock after purchasing an additional 214,209 shares during the quarter. Bank of Nova Scotia owned approximately 0.08% of Ross Stores worth $38,861,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after acquiring an additional 107 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores in the fourth quarter valued at approximately $31,000. ORG Partners LLC increased its stake in shares of Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 191 shares during the period. Kestra Investment Management LLC acquired a new stake in Ross Stores during the 4th quarter worth approximately $51,000. Finally, Oakworth Capital Inc. bought a new stake in Ross Stores in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ROST shares. Telsey Advisory Group dropped their target price on Ross Stores from $175.00 to $150.00 and set a "market perform" rating for the company in a report on Wednesday, March 5th. Barclays set a $150.00 price objective on shares of Ross Stores in a research note on Wednesday, March 5th. Loop Capital decreased their target price on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lowered their target price 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. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.67.

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Ross Stores Price Performance

ROST stock traded up $1.37 during trading on Monday, reaching $142.88. 771,399 shares of the company were exchanged, compared to its average volume of 2,647,978. The company has a market capitalization of $46.98 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 2.13 and a beta of 1.11. 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 50-day moving average of $133.80 and a two-hundred day moving average of $143.11. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month 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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.95 billion. As a group, equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.405 per share. This is a boost from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, March 18th. Ross Stores's payout ratio is 25.63%.

Insider Activity

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the company'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 value of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Fleming sold 5,270 shares of Ross Stores stock in a transaction on Monday, March 31st. The stock was sold at an average price of $127.70, for a total transaction of $672,979.00. Following the transaction, the chief marketing officer now owns 93,126 shares in the company, valued at approximately $11,892,190.20. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock valued at $4,439,950 over the last quarter. 2.10% of the stock is owned by company insiders.

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.