Ross Stores, Inc. (NASDAQ:ROST) Holdings Decreased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 417,173 shares of the apparel retailer’s stock after selling 12,915 shares during the quarter. CIBC Private Wealth Group LLC owned 0.13% of Ross Stores worth $64,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hahn Capital Management LLC lifted its position in shares of Ross Stores by 40.9% in the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer’s stock worth $11,203,000 after buying an additional 21,500 shares during the last quarter. Sovran Advisors LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth approximately $269,000. Oppenheimer & Co. Inc. increased its position in Ross Stores by 22.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer’s stock worth $431,000 after buying an additional 524 shares during the period. Oak Ridge Investments LLC boosted its holdings in shares of Ross Stores by 10.6% during the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock valued at $17,524,000 after acquiring an additional 11,060 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after acquiring an additional 1,144,774 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ROST has been the subject of a number of analyst reports. Loop Capital reduced their price target on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 target price (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Telsey Advisory Group dropped their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.40.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at $17,760,529.79. The trade was a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the business’s 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 directly owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Ross Stores Price Performance

NASDAQ ROST opened at $125.42 on Monday. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The business has a 50 day simple moving average of $137.81 and a 200 day simple moving average of $144.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Analysts anticipate 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. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) 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.