Desjardins Global Asset Management Inc. Boosts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Desjardins Global Asset Management Inc. increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,013 shares of the apparel retailer’s stock after purchasing an additional 273 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Ross Stores were worth $279,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its holdings in Ross Stores by 9.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after purchasing an additional 76 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Ross Stores by 1.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock worth $600,000 after acquiring an additional 85 shares in the last quarter. Steph & Co. raised its holdings in shares of Ross Stores by 4.5% during the 3rd quarter. Steph & Co. now owns 2,048 shares of the apparel retailer’s stock worth $231,000 after acquiring an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Ross Stores by 14.1% during the 3rd quarter. Global Retirement Partners LLC now owns 783 shares of the apparel retailer’s stock worth $88,000 after acquiring an additional 97 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $131.80 on Friday. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The company has a market capitalization of $44.38 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The stock’s fifty day moving average is $144.19 and its two-hundred day moving average is $134.41. 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 (NASDAQ:ROST) last issued its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts expect that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is currently 26.44%.

Ross Stores announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Telsey Advisory Group upped their price objective on Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Jefferies Financial Group upped their price objective on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets upped their price objective on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company boosted their target price on Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the sale, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is currently owned by company insiders.

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.