KLP Kapitalforvaltning AS Takes $17.22 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

KLP Kapitalforvaltning AS bought a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 113,844 shares of the apparel retailer's stock, valued at approximately $17,221,000.

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

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Ross Stores Stock Down 0.8 %

Ross Stores stock traded down $1.05 during mid-day trading on Tuesday, reaching $128.13. The stock had a trading volume of 3,660,703 shares, compared to its average volume of 2,435,609. The firm has a market capitalization of $42.27 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. 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 fifty-two week low of $122.36 and a fifty-two week high of $163.60. The stock's 50-day simple moving average is $139.52 and its 200-day simple moving average is $145.42.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its 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 business had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.95 billion. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.405 dividend. 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 dividend yield of 1.26%. Ross Stores's payout ratio is 25.63%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were 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 trade represents a 5.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ROST has been the topic of a number of analyst reports. Loop Capital dropped their target price on Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Telsey Advisory Group dropped their price objective on shares of Ross Stores from $175.00 to $150.00 and set a "market perform" rating for the company in a research note on Wednesday, March 5th. 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 note on Wednesday, March 5th. Evercore ISI lowered their price target on Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reissued a "negative" rating on shares of Ross Stores in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently 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.