Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 88.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,973 shares of the apparel retailer's stock after selling 14,716 shares during the period. Magnetar Financial LLC's holdings in Ross Stores were worth $298,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in Ross Stores by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer's stock worth $295,857,000 after acquiring an additional 151,255 shares during the period. Banque Cantonale Vaudoise acquired a new position in Ross Stores in the 3rd quarter valued at approximately $59,000. Commerce Bank increased its stake in Ross Stores by 2.0% in the third quarter. Commerce Bank now owns 30,788 shares of the apparel retailer's stock valued at $4,634,000 after acquiring an additional 616 shares during the period. Intech Investment Management LLC raised its stake in Ross Stores by 63.1% during the third quarter. Intech Investment Management LLC now owns 15,120 shares of the apparel retailer's stock worth $2,276,000 after acquiring an additional 5,848 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Ross Stores by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,899,271 shares of the apparel retailer's stock valued at $285,859,000 after purchasing an additional 12,962 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

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Ross Stores Stock Performance

ROST traded down $1.42 during trading on Tuesday, hitting $127.76. The company's stock had a trading volume of 1,138,617 shares, compared to its average volume of 2,433,196. The business's 50 day simple moving average is $139.52 and its 200-day simple moving average is $145.42. The firm has a market cap of $42.15 billion, a PE ratio of 20.13, a P/E/G 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, Inc. has a one year low of $122.36 and a one year high of $163.60.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.95 billion. As a group, sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. Ross Stores's payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ROST shares. Evercore ISI cut their price objective on shares of Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of 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. Wells Fargo & Company reaffirmed a "negative" rating on shares of Ross Stores in a research note on Wednesday, March 5th. Telsey Advisory Group reduced their price target on Ross Stores from $175.00 to $150.00 and set a "market perform" rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $161.40.

Insiders Place Their Bets

In related news, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the sale, the chief marketing officer now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company's stock.

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.