Primecap Management Co. CA Sells 171,142 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Primecap Management Co. CA cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,364,825 shares of the apparel retailer's stock after selling 171,142 shares during the period. Ross Stores makes up 1.2% of Primecap Management Co. CA's holdings, making the stock its 23rd biggest holding. Primecap Management Co. CA owned 3.14% of Ross Stores worth $1,567,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROST. State Street Corp increased its holdings in 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 purchasing an additional 67,861 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ross Stores by 0.4% during the third quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer's stock valued at $1,222,915,000 after buying an additional 34,475 shares during the last quarter. FMR LLC grew its holdings in Ross Stores by 4.9% during the third quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer's stock worth $1,025,309,000 after buying an additional 316,652 shares in the last quarter. Marshfield Associates raised its position in Ross Stores by 0.4% in the 3rd quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer's stock valued at $588,337,000 after buying an additional 14,193 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in 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 acquiring an additional 1,507,922 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

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Ross Stores Stock Performance

ROST traded down $1.06 on Friday, hitting $123.54. The company's stock had a trading volume of 6,659,751 shares, compared to its average volume of 2,424,345. Ross Stores, Inc. has a 12 month low of $122.65 and a 12 month high of $163.60. The firm has a market cap of $40.76 billion, a P/E ratio of 19.46, a price-to-earnings-growth 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. The company's 50 day simple moving average is $140.53 and its 200-day simple moving average is $145.86.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 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 firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $0.405 dividend. This is a positive change 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 1.31%. The ex-dividend date is Tuesday, March 18th. Ross Stores's dividend payout ratio (DPR) is 25.63%.

Insider Activity at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ROST. UBS Group reduced their target price on shares of Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Guggenheim reiterated a "buy" rating and issued a $180.00 price objective on shares of Ross Stores in a research note on Friday, November 22nd. Morgan Stanley cut their target price on 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. Robert W. Baird decreased their price target on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.40.

Ross Stores Company Profile

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.