DnB Asset Management AS Purchases 2,590 Shares of Ross Stores, Inc. (NASDAQ:ROST)

DnB Asset Management AS grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,620 shares of the apparel retailer’s stock after buying an additional 2,590 shares during the quarter. DnB Asset Management AS’s holdings in Ross Stores were worth $9,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ROST. State Street Corp boosted its stake in Ross Stores by 0.5% during the 3rd quarter. State Street Corp now owns 14,137,281 shares of the apparel retailer’s stock valued at $2,127,802,000 after purchasing an additional 67,861 shares during the last quarter. Geode Capital Management LLC grew its position in Ross Stores by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer’s stock worth $1,222,915,000 after purchasing an additional 34,475 shares during the period. Norges Bank purchased a new stake in Ross Stores during the fourth quarter valued at $649,318,000. Marshfield Associates boosted its position in Ross Stores by 0.4% in the third quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer’s stock worth $588,337,000 after purchasing an additional 14,193 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares during the period. Institutional investors own 86.86% of the company’s stock.

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 the firm’s stock in a transaction on Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $11,826,540.99. This represents 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.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Barclays set a $150.00 price objective on Ross Stores in a research report on Wednesday, March 5th. Telsey Advisory Group reduced their target price on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday, March 5th. Evercore ISI lowered 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. 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. According to data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $161.40.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $125.42 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The stock has a 50 day moving average of $137.81 and a 200 day moving average of $144.81. The firm has a market cap of $41.38 billion, a PE ratio of 19.75, a PEG 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 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 firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. On average, research analysts expect 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 will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.29%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is currently 25.63%.

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.