Jensen Investment Management Inc. Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Jensen Investment Management Inc. acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 40,800 shares of the apparel retailer's stock, valued at approximately $6,172,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC lifted its stake in shares of Ross Stores by 8,209.0% during the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock worth $360,204,000 after acquiring an additional 2,352,543 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Ross Stores in the fourth quarter worth $230,204,000. Wellington Management Group LLP lifted its position in shares of 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 worth $581,373,000 after purchasing an additional 1,507,922 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ross Stores during the fourth quarter worth $173,329,000. Finally, Nordea Investment Management AB boosted its stake in shares of 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 valued at $299,583,000 after purchasing an additional 1,144,774 shares during the period. Hedge funds and other institutional investors own 86.86% of the company's stock.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the completion of the sale, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

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Ross Stores Stock Down 1.1 %

ROST traded down $1.35 on Thursday, hitting $124.60. The company had a trading volume of 4,366,201 shares, compared to its average volume of 2,405,636. The stock has a market capitalization of $41.11 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 2.13 and a beta of 1.15. The stock has a fifty day moving average price of $141.13 and a 200-day moving average price of $146.01. Ross Stores, Inc. has a 12-month low of $122.77 and a 12-month high of $163.60. 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 (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's dividend payout ratio is currently 25.63%.

Analysts Set New Price Targets

ROST has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated a "negative" rating on shares of Ross Stores in a report on Wednesday, March 5th. Evercore ISI decreased their price target on shares of Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim reiterated a "buy" rating and issued a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ross Stores has a consensus rating of "Moderate Buy" and an average price target of $161.40.

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.