Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Ross Stores, Inc. (NASDAQ:ROST)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 576,424 shares of the apparel retailer’s stock after purchasing an additional 38,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ross Stores were worth $88,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Ross Stores by 8.3% during the third quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer’s stock valued at $295,857,000 after purchasing an additional 151,255 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Ross Stores by 11.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,894 shares of the apparel retailer’s stock valued at $436,000 after acquiring an additional 302 shares during the last quarter. Independent Advisor Alliance purchased a new position in Ross Stores in the third quarter worth about $481,000. Brown Brothers Harriman & Co. increased its stake in Ross Stores by 19.1% during the third quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 76 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Ross Stores by 17.9% during the third quarter. Private Trust Co. NA now owns 690 shares of the apparel retailer’s stock valued at $104,000 after purchasing an additional 105 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

Shares of ROST opened at $129.09 on Friday. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The stock has a fifty day moving average price of $138.28 and a 200-day moving average price of $145.03. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a market cap of $42.59 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 released its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

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

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 in the company, valued at $17,760,529.79. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Morgan Stanley decreased their target price 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. Evercore ISI cut their price target on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company reissued 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 given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $161.40.

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.