Ross Stores, Inc. (NASDAQ:ROST) Holdings Raised by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,229 shares of the apparel retailer’s stock after acquiring an additional 1,250 shares during the quarter. Fisher Asset Management LLC’s holdings in Ross Stores were worth $3,215,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its holdings in shares of Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Ross Stores by 52.9% during 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 during the 3rd quarter valued at $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Ross Stores in the 4th quarter worth $51,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity at Ross Stores

In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred 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 owns 62,711 shares in the company, valued at $9,155,806. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the sale, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Trading Down 0.7 %

Shares of NASDAQ ROST opened at $131.58 on Wednesday. The business has a 50 day simple moving average of $140.49 and a 200 day simple moving average of $136.29. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The stock has a market cap of $44.30 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Ross Stores’s quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

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

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.12%. Ross Stores’s dividend payout ratio is currently 26.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays lifted their price target on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen upped their price target on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group raised their price objective on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $155.11.

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.