Clearbridge Investments LLC Reduces Stake in Ross Stores, Inc. (NASDAQ:ROST)

Clearbridge Investments LLC lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,684 shares of the apparel retailer’s stock after selling 359 shares during the period. Clearbridge Investments LLC’s holdings in Ross Stores were worth $22,945,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position 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 purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Ross Stores during the fourth quarter valued at approximately $31,000. ORG Partners LLC raised its position in Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Ross Stores during the 4th quarter worth $51,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth $57,000. Institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ROST shares. Loop Capital decreased their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. UBS Group lowered their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird reduced their target price 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. Wells Fargo & Company reaffirmed a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. Finally, Telsey Advisory Group dropped their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $161.40.

Ross Stores Stock Performance

NASDAQ ROST opened at $129.11 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The business has a 50 day simple moving average of $136.98 and a two-hundred day simple moving average of $144.41. The stock has a market capitalization of $42.60 billion, a PE ratio of 20.33, a P/E/G ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating 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, research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.25%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, March 18th. Ross Stores’s dividend payout ratio is currently 25.63%.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at $11,826,540.99. The trade was a 5.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

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.