Cinctive Capital Management LP Lowers Stake in Ross Stores, Inc. (NASDAQ:ROST)

Cinctive Capital Management LP lessened its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,982 shares of the apparel retailer's stock after selling 16,292 shares during the period. Cinctive Capital Management LP's holdings in Ross Stores were worth $9,981,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ROST. Larson Financial Group LLC boosted its holdings in Ross Stores by 152.9% in the fourth 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 in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores in the 4th quarter worth about $31,000. ORG Partners LLC boosted its stake 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 valued at $36,000 after purchasing an additional 191 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Ross Stores during the fourth quarter valued at about $51,000. Finally, Oakworth Capital Inc. bought a new position in Ross Stores in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

NASDAQ:ROST traded down $4.00 during trading hours on Monday, reaching $126.31. The company had a trading volume of 1,841,685 shares, compared to its average volume of 2,591,455. The firm's 50 day moving average price is $135.91 and its 200-day moving average price is $143.98. The firm has a market cap of $41.53 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.13 and a beta of 1.11. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60.

Remove Ads

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

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued 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 dividend on an annualized basis and a dividend yield of 1.28%. Ross Stores's dividend payout ratio (DPR) is presently 25.63%.

Insider Activity at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at $17,760,529.79. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,398 shares of company stock worth $4,439,950. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROST has been the topic of several research reports. Evercore ISI cut their price objective on Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird dropped their price target on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Telsey Advisory Group decreased their price objective 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. Loop Capital lowered their price objective on Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced 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 research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $161.00.

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.