Ross Stores, Inc. (NASDAQ:ROST) Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 625,955 shares of the apparel retailer’s stock after selling 47,758 shares during the period. California Public Employees Retirement System’s holdings in Ross Stores were worth $86,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC increased its holdings 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 acquiring an additional 229 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings 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 acquiring an additional 83 shares during the last quarter. Rock Creek Group LP bought a new stake in shares of Ross Stores in the 3rd quarter valued at approximately $35,000. Steward Financial Group LLC increased its holdings 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 acquiring an additional 210 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Ross Stores in the 4th quarter valued at approximately $51,000. 86.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. 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. BMO Capital Markets boosted their price objective on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI boosted their price objective on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.21.

Read Our Latest Stock Report on ROST

Insider Transactions at Ross Stores

In other news, Director Patricia H. Mueller sold 2,265 shares of the business’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 sale, the director now directly owns 1,914 shares of the company’s stock, valued at $278,257.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director now directly owns 1,914 shares of the company’s stock, valued at $278,257.32. 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. Insiders have sold 71,097 shares of company stock valued at $10,396,178 over the last three months. Company insiders own 2.00% of the company’s stock.

Ross Stores Trading Down 0.4 %

Shares of Ross Stores stock opened at $132.61 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The firm has a market cap of $44.65 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The business has a fifty day simple moving average of $143.24 and a 200-day simple moving average of $135.14. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. The business had revenue of $6.02 billion during 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%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 5.89 EPS for the current fiscal 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.

Ross Stores Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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