CIBC Private Wealth Group LLC Sells 12,915 Shares of Ross Stores, Inc. (NASDAQ:ROST)

CIBC Private Wealth Group LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,173 shares of the apparel retailer's stock after selling 12,915 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.13% of Ross Stores worth $64,507,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Ross Stores by 8.3% in the third quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer's stock valued at $295,857,000 after purchasing an additional 151,255 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Ross Stores by 32.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,904 shares of the apparel retailer's stock worth $437,000 after acquiring an additional 704 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ross Stores by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,535 shares of the apparel retailer's stock worth $9,262,000 after acquiring an additional 835 shares during the period. Captrust Financial Advisors grew its stake in Ross Stores by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 31,460 shares of the apparel retailer's stock valued at $4,735,000 after acquiring an additional 89 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Ross Stores by 478.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 400,204 shares of the apparel retailer's stock worth $60,235,000 after purchasing an additional 331,007 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, CMO Karen Fleming sold 5,270 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $127.70, for a total value of $672,979.00. Following the completion of the transaction, the chief marketing officer now owns 93,126 shares in the company, valued at $11,892,190.20. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 7,492 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,101 shares of company stock valued at $2,300,905 in the last 90 days. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on ROST shares. Loop Capital reduced their price objective 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. Evercore ISI decreased their price target on Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Citigroup raised Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective on the stock in a research note on Thursday. StockNews.com cut Ross Stores from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Robert W. Baird reduced their price objective on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and an average target price of $161.00.

Ross Stores Price Performance

ROST traded down $0.45 during midday trading on Thursday, reaching $131.92. 2,757,220 shares of the company's stock were exchanged, compared to its average volume of 2,568,202. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The firm has a market capitalization of $43.52 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The business has a 50-day simple moving average of $136.63 and a two-hundred day simple moving average of $144.32. 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 (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, beating the consensus estimate 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 analyst estimates of $5.95 billion. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, March 18th. Ross Stores's dividend payout ratio (DPR) is currently 25.63%.

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.