Jennison Associates LLC Reduces Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Jennison Associates LLC cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 97.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,547 shares of the apparel retailer's stock after selling 213,010 shares during the period. Jennison Associates LLC's holdings in Ross Stores were worth $839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Peapack Gladstone Financial Corp increased its holdings in Ross Stores by 1.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer's stock worth $588,000 after acquiring an additional 70 shares during the period. Howe & Rusling Inc. grew its position in shares of Ross Stores by 1.9% during the 3rd quarter. Howe & Rusling Inc. now owns 3,986 shares of the apparel retailer's stock valued at $600,000 after purchasing an additional 73 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Ross Stores by 19.1% in the third quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer's stock worth $71,000 after purchasing an additional 76 shares during the period. Alhambra Investment Management LLC raised its position in shares of Ross Stores by 5.2% in the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer's stock worth $234,000 after buying an additional 76 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Ross Stores by 5.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,735 shares of the apparel retailer's stock valued at $261,000 after buying an additional 85 shares during the period. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Trading Down 0.3 %

ROST stock traded down $0.46 during trading on Monday, hitting $142.13. 2,185,214 shares of the company traded hands, compared to its average volume of 2,318,197. The company has a 50-day moving average of $151.04 and a 200-day moving average of $148.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60. The firm has a market capitalization of $46.89 billion, a PE ratio of 22.38, a P/E/G ratio of 2.22 and a beta of 1.10.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year. Analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, December 10th. Ross Stores's payout ratio is 23.15%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Guggenheim restated a "buy" rating and issued a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Wells Fargo & Company restated an "equal weight" rating and issued a $165.00 price objective on shares of Ross Stores in a research report on Friday, January 10th. Morgan Stanley reiterated an "equal weight" rating and set a $140.00 target price (down from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Citigroup lowered shares of Ross Stores from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $175.00 price objective on shares of Ross Stores in a report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.06.

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.