Renaissance Technologies LLC decreased its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 66.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,805 shares of the apparel retailer's stock after selling 579,623 shares during the period. Renaissance Technologies LLC owned about 0.09% of Ross Stores worth $44,898,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its stake in shares of Ross Stores by 501.8% during the 4th quarter. Bank of Nova Scotia now owns 256,896 shares of the apparel retailer's stock worth $38,861,000 after acquiring an additional 214,209 shares in the last quarter. Invesco Ltd. grew its holdings in Ross Stores by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,805,427 shares of the apparel retailer's stock valued at $575,647,000 after purchasing an additional 154,486 shares during the last quarter. FMR LLC lifted its position in shares of Ross Stores by 11.9% during the 4th quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock worth $1,152,690,000 after purchasing an additional 807,850 shares during the last quarter. Federated Hermes Inc. increased its position in Ross Stores by 12.3% during the fourth quarter. Federated Hermes Inc. now owns 236,262 shares of the apparel retailer's stock worth $35,739,000 after acquiring an additional 25,970 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co raised its holdings in Ross Stores by 311.5% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 59,446 shares of the apparel retailer's stock valued at $8,992,000 after acquiring an additional 45,000 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the sale, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. The trade was a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the business's 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 transaction, the chief marketing officer now directly owns 94,063 shares of the company's stock, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,398 shares of company stock valued at $4,439,950 in the last three months. Company insiders own 2.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ROST. Loop Capital decreased their price objective on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. UBS Group lowered their target price on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Ross Stores from $166.00 to $161.00 and set an "overweight" rating for the company in a research note on Monday. Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Finally, 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. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.87.
Get Our Latest Stock Analysis on ROST
Ross Stores Price Performance
Shares of ROST stock traded down $0.59 during mid-day trading on Wednesday, reaching $140.44. The stock had a trading volume of 691,872 shares, compared to its average volume of 2,649,174. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $133.64 and a 200 day simple moving average of $143.04. The company has a market cap of $46.18 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11.
Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.
Ross Stores Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is presently 25.63%.
About Ross Stores
(
Free Report)
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.
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