Ross Stores, Inc. (NASDAQ:ROST) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,620 shares of the apparel retailer's stock after purchasing an additional 2,590 shares during the period. DnB Asset Management AS's holdings in Ross Stores were worth $9,321,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ROST. Hahn Capital Management LLC increased its position in Ross Stores by 40.9% during the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after purchasing an additional 21,500 shares in the last quarter. Sovran Advisors LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth about $269,000. Oppenheimer & Co. Inc. grew its holdings in shares of Ross Stores by 22.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock worth $431,000 after buying an additional 524 shares in the last quarter. Oak Ridge Investments LLC raised its position in shares of Ross Stores by 10.6% in the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock valued at $17,524,000 after buying an additional 11,060 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock worth $299,583,000 after acquiring an additional 1,144,774 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Ross Stores Stock Down 0.6 %

Shares of ROST traded down $0.83 during midday trading on Thursday, reaching $131.54. 1,500,119 shares of the company were exchanged, compared to its average volume of 2,563,521. 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 1-year low of $122.36 and a 1-year high of $163.60. The company has a market cap of $43.40 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 2.13 and a beta of 1.15. The stock has a 50-day moving average price of $136.63 and a 200-day moving average price of $144.32.

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

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.405 dividend. This is a boost from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.23%. Ross Stores's payout ratio is 25.63%.

Insider Activity 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 value of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares of the company's stock, valued at $11,826,540.99. This represents a 5.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the sale, the chief operating officer now directly owns 139,091 shares of the company's stock, valued at $17,760,529.79. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,101 shares of company stock valued at $2,300,905. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays set a $150.00 price target on Ross Stores in a report on Wednesday, March 5th. Evercore ISI reduced their target price 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. StockNews.com cut Ross Stores from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group cut their price objective on shares of Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Finally, Robert W. Baird lowered their target price on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a 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 stock. According to MarketBeat.com, Ross Stores presently has an average rating of "Moderate Buy" and an average target price 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.