Corient Private Wealth LLC Trims Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Corient Private Wealth LLC decreased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,977 shares of the apparel retailer's stock after selling 14,244 shares during the quarter. Corient Private Wealth LLC's holdings in Ross Stores were worth $15,729,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ROST. State Street Corp raised its stake in shares of Ross Stores by 0.5% in the third quarter. State Street Corp now owns 14,137,281 shares of the apparel retailer's stock worth $2,127,802,000 after purchasing an additional 67,861 shares during the last quarter. Geode Capital Management LLC increased its position in Ross Stores by 0.4% during the third quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer's stock valued at $1,222,915,000 after acquiring an additional 34,475 shares during the last quarter. FMR LLC increased its position in Ross Stores by 4.9% during the third quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer's stock valued at $1,025,309,000 after acquiring an additional 316,652 shares during the last quarter. Marshfield Associates increased its position in Ross Stores by 0.4% during the third quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer's stock valued at $588,337,000 after acquiring an additional 14,193 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ross Stores by 64.0% during the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer's stock valued at $581,373,000 after acquiring an additional 1,507,922 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Remove Ads

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the sale, the chief marketing officer now directly owns 94,063 shares in the company, valued at $11,826,540.99. This represents a 5.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.

Ross Stores Price Performance

Ross Stores stock traded down $1.06 during midday trading on Friday, reaching $123.54. 6,659,751 shares of the stock traded hands, compared to its average volume of 2,426,242. The stock's fifty day moving average is $139.96 and its 200-day moving average is $145.63. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The stock has a market cap of $40.76 billion, a P/E ratio of 19.46, a PEG ratio of 2.13 and a beta of 1.15. 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 analysts' consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. As a group, equities 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 will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.31%. Ross Stores's dividend payout ratio is 25.63%.

Analysts Set New Price Targets

ROST has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Ross Stores from $140.00 to $130.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. UBS Group cut their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group cut their price target 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. Finally, StockNews.com lowered Ross Stores from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ross Stores presently has a consensus rating of "Moderate Buy" and an average price target of $161.40.

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.