Amundi Pioneer Asset Management Inc. trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,623,768 shares of the apparel retailer’s stock after selling 63,131 shares during the quarter. Amundi Pioneer Asset Management Inc. owned about 1.02% of Ross Stores worth $445,035,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ROST. Price T Rowe Associates Inc. MD raised its holdings in Ross Stores by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,968,736 shares of the apparel retailer’s stock worth $5,888,289,000 after purchasing an additional 204,495 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its holdings in Ross Stores by 3.7% during the 4th quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,147,400 shares of the apparel retailer’s stock worth $507,974,000 after purchasing an additional 147,400 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Ross Stores by 12.9% during the 4th quarter. Bessemer Group Inc. now owns 3,840,106 shares of the apparel retailer’s stock worth $471,604,000 after buying an additional 438,569 shares during the period. Norges Bank acquired a new position in shares of Ross Stores during the 4th quarter worth about $443,766,000. Finally, Victory Capital Management Inc. grew its position in shares of Ross Stores by 6.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,504,943 shares of the apparel retailer’s stock worth $430,443,000 after buying an additional 227,113 shares during the period. 83.15% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ROST opened at $123.41 on Thursday. The stock’s 50-day simple moving average is $119.88 and its 200 day simple moving average is $110.78. The firm has a market capitalization of $44.00 billion, a PE ratio of 146.92, a price-to-earnings-growth ratio of 8.16 and a beta of 0.95. The company has a quick ratio of 1.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.83. Ross Stores, Inc. has a twelve month low of $79.65 and a twelve month high of $127.08.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 16th were issued a $0.285 dividend. The ex-dividend date was Monday, March 15th. This represents a $1.14 dividend on an annualized basis and a yield of 0.92%. Ross Stores’s payout ratio is currently 24.89%.
In other Ross Stores news, insider Michael K. Kobayashi sold 13,544 shares of Ross Stores stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $123.49, for a total value of $1,672,548.56. Following the completion of the sale, the insider now directly owns 99,589 shares in the company, valued at $12,298,245.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 69,407 shares of Ross Stores stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $111.70, for a total value of $7,752,761.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,110 shares of company stock valued at $25,291,415. 2.00% of the stock is currently owned by corporate insiders.
ROST has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on Ross Stores from $121.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 20th. Deutsche Bank Aktiengesellschaft upped their price target on Ross Stores from $123.00 to $129.00 and gave the stock a “buy” rating in a research report on Thursday, January 21st. UBS Group reduced their price target on Ross Stores from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on Ross Stores from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $117.05.
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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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