Townsquare Capital LLC Raises Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Townsquare Capital LLC increased its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,243 shares of the apparel retailer's stock after buying an additional 3,561 shares during the period. Townsquare Capital LLC's holdings in Ross Stores were worth $8,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Ross Stores during the fourth quarter worth $649,318,000. Wealthfront Advisers LLC raised its stake in Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in Ross Stores in the fourth quarter worth about $230,204,000. Raymond James Financial Inc. purchased a new stake in shares of Ross Stores during the fourth quarter worth about $173,329,000. Finally, Nordea Investment Management AB grew its stake in shares of Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock worth $299,583,000 after acquiring an additional 1,144,774 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Price Performance

Ross Stores stock traded up $0.95 during trading on Friday, reaching $139.63. The company had a trading volume of 2,287,417 shares, compared to its average volume of 2,660,164. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The firm's 50-day simple moving average is $133.51 and its 200 day simple moving average is $142.94. The firm has a market capitalization of $45.91 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its 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 net margin of 9.95% and a return on equity of 41.83%. The business had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.95 billion. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company 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 is an increase from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.16%. The ex-dividend date was Tuesday, March 18th. Ross Stores's dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ROST shares. JPMorgan Chase & Co. dropped their target price on shares of Ross Stores from $166.00 to $161.00 and set an "overweight" rating on the stock in a research report on Monday. StockNews.com lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays set a $150.00 target price on Ross Stores in a research note on Wednesday, March 5th. Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target on the stock in a research note on Thursday, April 3rd. Finally, Robert W. Baird reduced their price objective on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.87.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now directly owns 139,091 shares of the company's stock, valued at $17,760,529.79. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the sale, the chairman now owns 59,790 shares of the company's stock, valued at $7,868,364. This trade represents a 15.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,398 shares of company stock worth $4,439,950. Corporate insiders own 2.10% of the company's stock.

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.