Corient Private Wealth LLC Decreases Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Corient Private Wealth LLC reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,977 shares of the apparel retailer’s stock after selling 14,244 shares during the quarter. Corient Private Wealth LLC’s holdings in Ross Stores were worth $15,729,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted 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 worth $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores during the 4th quarter valued at about $31,000. ORG Partners LLC increased its position in Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after buying an additional 191 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Ross Stores during the 4th quarter valued at about $51,000. Finally, Oakworth Capital Inc. acquired a new position in Ross Stores during the 4th quarter valued at about $57,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Up 1.8 %

Shares of ROST opened at $125.95 on Thursday. Ross Stores, Inc. has a 52 week low of $122.77 and a 52 week high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $41.55 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.13 and a beta of 1.15. The stock’s 50-day moving average price is $141.13 and its 200-day moving average price is $146.01.

Ross Stores (NASDAQ:ROST) last issued its earnings results 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 firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a yield of 1.29%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROST. JPMorgan Chase & Co. upped their target price on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley reduced their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Loop Capital reduced their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. UBS Group reduced their target price 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. Finally, Barclays set a $150.00 price objective on Ross Stores in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.40.

Insiders Place Their Bets

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction that occurred 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 owns 94,063 shares in the company, valued at approximately $11,826,540.99. This represents a 5.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.