DnB Asset Management AS Boosts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

DnB Asset Management AS raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 61,620 shares of the apparel retailer’s stock after buying an additional 2,590 shares during the period. DnB Asset Management AS’s holdings in Ross Stores were worth $9,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ROST. Larson Financial Group LLC increased its stake in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores during the fourth quarter worth approximately $31,000. ORG Partners LLC increased its position in shares of Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $51,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $57,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

Shares of ROST opened at $125.42 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a market cap of $41.38 billion, a PE ratio of 19.75, a P/E/G ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The stock has a fifty day moving average price of $137.81 and a 200-day moving average price of $144.81.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.29%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Karen Fleming sold 5,339 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was 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. This represents a 5.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird decreased their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets decreased their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group dropped their target price on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, March 5th. Loop Capital reduced their price target on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Evercore ISI dropped their price objective on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

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.