Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 11.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 260,144 shares of the apparel retailer’s stock after selling 31,990 shares during the period. New York State Common Retirement Fund’s holdings in Ross Stores were worth $36,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Advisors LLC lifted its stake in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 229 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Rock Creek Group LP acquired a new position in shares of Ross Stores in the 3rd quarter valued at about $35,000. Steward Financial Group LLC lifted its stake in shares of Ross Stores by 164.1% in the 3rd quarter. Steward Financial Group LLC now owns 338 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 210 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Ross Stores in the 4th quarter valued at about $51,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROST has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Evercore ISI boosted their price target on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Loop Capital boosted their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley boosted their price objective on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, TD Cowen boosted their price objective on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $155.21.

Insider Activity at Ross Stores

In related news, insider Michael K. Kobayashi sold 13,860 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Brian R. Morrow sold 10,734 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the transaction, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael K. Kobayashi sold 13,860 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares in the company, valued at $9,091,941.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.00% of the company’s stock.

Ross Stores Stock Down 0.3 %

Shares of Ross Stores stock opened at $132.15 on Friday. The stock’s fifty day moving average is $142.99 and its 200-day moving average is $135.12. The firm has a market capitalization of $44.49 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. Ross Stores’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Equities analysts anticipate that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.3675 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.11%. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its board has authorized a stock repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.