Corebridge Financial Inc. Has $16.02 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Corebridge Financial Inc. cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,912 shares of the apparel retailer’s stock after selling 6,708 shares during the quarter. Corebridge Financial Inc.’s holdings in Ross Stores were worth $16,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Peapack Gladstone Financial Corp boosted its stake in shares of Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock valued at $588,000 after purchasing an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Ross Stores by 19.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 76 shares during the last quarter. Alhambra Investment Management LLC increased its holdings in Ross Stores by 5.2% in the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock worth $234,000 after purchasing an additional 76 shares in the last quarter. Key Financial Inc raised its position in Ross Stores by 13.2% in the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock valued at $100,000 after purchasing an additional 77 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Ross Stores by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer’s stock valued at $470,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at $11,826,540.99. The trade was a 5.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Telsey Advisory Group lowered their price objective on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research note on Wednesday, March 5th. Loop Capital dropped their target price on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird dropped their price objective on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, UBS Group decreased their target price on Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.40.

Ross Stores Price Performance

Shares of ROST opened at $129.18 on Tuesday. The business’s fifty day moving average is $139.52 and its 200 day moving average is $145.42. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a market cap of $42.62 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a dividend yield of 1.25%. Ross Stores’s dividend payout ratio is 25.63%.

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.