Norges Bank Makes New $649.32 Million Investment in Ross Stores, Inc. (NASDAQ:ROST)

Norges Bank bought a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,292,441 shares of the apparel retailer's stock, valued at approximately $649,318,000. Norges Bank owned approximately 1.30% of Ross Stores at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ROST. Larson Financial Group LLC grew its stake in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores in the fourth quarter valued at approximately $31,000. ORG Partners LLC grew its position in Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC purchased a new stake in Ross Stores in the fourth quarter valued at $51,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Ross Stores in the 4th quarter valued at $57,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 1.8 %

Shares of Ross Stores stock traded up $2.26 during trading on Monday, hitting $127.68. 1,820,780 shares of the stock were exchanged, compared to its average volume of 2,558,030. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The firm's 50-day moving average price is $137.81 and its 200 day moving average price is $144.77. The stock has a market cap of $42.13 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60.

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Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results 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 return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores's dividend payout ratio (DPR) is 25.63%.

Analyst Upgrades and Downgrades

ROST has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. UBS Group reduced their price target on shares of Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Evercore ISI dropped their target price on shares of Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Loop Capital lowered their price target on Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reiterated a "negative" rating on shares of Ross Stores in a report on Wednesday, March 5th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $161.40.

Insider Activity at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction 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. The trade was a 5.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at approximately $17,760,529.79. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. 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.