Summitry LLC Increases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Summitry LLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,879 shares of the apparel retailer’s stock after buying an additional 6,871 shares during the quarter. Ross Stores accounts for approximately 2.6% of Summitry LLC’s holdings, making the stock its 16th largest position. Summitry LLC owned approximately 0.11% of Ross Stores worth $53,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROST. Wealthfront Advisers LLC grew its position in Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at $230,204,000. Wellington Management Group LLP increased its stake in shares of Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Ross Stores in the 4th quarter worth $173,329,000. Finally, Nordea Investment Management AB raised its holdings in Ross Stores by 137.7% in the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after purchasing an additional 1,144,774 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Down 0.8 %

NASDAQ ROST opened at $128.13 on Wednesday. The stock has a 50 day moving average price of $139.10 and a 200-day moving average price of $145.26. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The company has a market capitalization of $42.27 billion, a P/E ratio of 20.18, 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 quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data 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 business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. As a group, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.26%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is presently 25.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROST. Morgan Stanley reduced their price target on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. UBS Group decreased 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. Barclays set a $150.00 price target on shares of Ross Stores in a report on Wednesday, March 5th. Robert W. Baird reduced their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, BMO Capital Markets lowered their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $161.40.

Insider Transactions at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of the firm’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 sale, the chief marketing officer now owns 94,063 shares in the company, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

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.