Alliancebernstein L.P. Has $121.92 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Alliancebernstein L.P. reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 805,949 shares of the apparel retailer’s stock after selling 117,173 shares during the period. Alliancebernstein L.P. owned about 0.24% of Ross Stores worth $121,916,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ROST. Larson Financial Group LLC grew its stake in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores in the fourth quarter worth approximately $31,000. ORG Partners LLC grew its position in Ross Stores by 434.1% in 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 in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ross Stores during the 4th quarter worth $51,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Ross Stores in the 4th quarter valued at $57,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

NASDAQ ROST opened at $132.37 on Thursday. The company’s fifty day moving average is $136.63 and its two-hundred day moving average is $144.32. The firm has a market capitalization of $43.67 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.

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

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Insider Buying and Selling

In related news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total value of $671,272.47. Following the completion of the transaction, the chief marketing officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the transaction, the chief operating officer now owns 139,091 shares of the company’s stock, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,101 shares of company stock valued at $2,300,905 over the last ninety days. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company reissued a “negative” rating on shares of Ross Stores in a research report on Wednesday, March 5th. Barclays set a $150.00 price objective on Ross Stores in a report on Wednesday, March 5th. UBS Group cut their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Loop Capital dropped their price target on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $161.40.

Ross Stores Profile

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.