Fmr LLC Acquires 807,850 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Fmr LLC lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,620,083 shares of the apparel retailer’s stock after acquiring an additional 807,850 shares during the period. Fmr LLC owned approximately 2.31% of Ross Stores worth $1,152,690,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Ross Stores during the fourth quarter worth about $649,318,000. Wealthfront Advisers LLC raised its holdings in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after buying an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Ross Stores during the 4th quarter worth approximately $230,204,000. Raymond James Financial Inc. bought a new position in shares of Ross Stores during the 4th quarter worth approximately $173,329,000. Finally, Nordea Investment Management AB grew its position in Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock valued at $299,583,000 after acquiring an additional 1,144,774 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROST. UBS Group reduced their target price on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Telsey Advisory Group decreased their price objective on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company reaffirmed a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Robert W. Baird dropped their price target on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $161.00.

Insider Activity at Ross Stores

In other news, Chairman Michael Balmuth sold 11,261 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares of the company’s stock, valued at $7,868,364. The trade was a 15.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Karen Sykes sold 5,036 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total transaction of $657,097.28. Following the completion of the sale, the chief marketing officer now owns 110,365 shares of the company’s stock, valued at approximately $14,400,425.20. This represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,398 shares of company stock worth $4,439,950. 2.10% of the stock is currently owned by company insiders.

Ross Stores Stock Down 0.7 %

Shares of NASDAQ:ROST opened at $130.31 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.13 and a beta of 1.11. The company has a 50 day moving average of $135.91 and a 200-day moving average of $143.98. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion during 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%. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

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.