1,668 Shares in Ross Stores, Inc. (NASDAQ:ROST) Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,668 shares of the apparel retailer’s stock, valued at approximately $231,000.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Ross Stores by 9.0% in the third quarter. International Assets Investment Management LLC now owns 4,941 shares of the apparel retailer’s stock worth $538,000 after acquiring an additional 410 shares during the last quarter. CWM LLC grew its holdings in shares of Ross Stores by 13.8% during the third quarter. CWM LLC now owns 6,722 shares of the apparel retailer’s stock worth $759,000 after buying an additional 816 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Ross Stores by 39.4% during the third quarter. AE Wealth Management LLC now owns 13,142 shares of the apparel retailer’s stock worth $1,484,000 after buying an additional 3,717 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Ross Stores by 14.1% in the third quarter. Global Retirement Partners LLC now owns 783 shares of the apparel retailer’s stock valued at $88,000 after buying an additional 97 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in Ross Stores by 24.1% during the 3rd quarter. HB Wealth Management LLC now owns 3,119 shares of the apparel retailer’s stock valued at $352,000 after acquiring an additional 605 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $133.77 on Tuesday. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The firm has a market capitalization of $45.04 billion, a PE ratio of 24.06, a PEG ratio of 1.90 and a beta of 1.04. The business’s 50 day moving average is $143.71 and its 200-day moving average is $135.01. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $1.31 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores announced that its board has initiated a stock repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. This represents a $1.47 annualized dividend and a yield of 1.10%. Ross Stores’s dividend payout ratio is currently 26.44%.

Insider Transactions at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now owns 3,166 shares in the company, valued at $468,219.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the transaction, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ROST. Evercore ISI raised their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets increased their price target on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Jefferies Financial Group increased their price target on shares of Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Guggenheim lifted their price objective on shares of Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays boosted their target price on Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $155.21.

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.