Ross Stores, Inc. (NASDAQ:ROST) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 525,375 shares of the apparel retailer’s stock after selling 55,081 shares during the quarter. California Public Employees Retirement System owned 0.16% of Ross Stores worth $79,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ROST shares. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. BMO Capital Markets cut their price target on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Robert W. Baird decreased their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Evercore ISI cut their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Insider Activity

In other news, COO Michael J. Hartshorn sold 7,492 shares of the firm’s 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 transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST opened at $127.79 on Tuesday. 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 company’s 50 day simple moving average is $137.38 and its 200-day simple moving average is $144.59. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The stock has a market capitalization of $42.16 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. Ross Stores’s dividend payout ratio is presently 25.63%.

Ross Stores Company 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.