Polar Asset Management Partners Inc. Invests $10.23 Million in Ross Stores, Inc. (NASDAQ:ROST)

Polar Asset Management Partners Inc. acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 67,600 shares of the apparel retailer’s stock, valued at approximately $10,226,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Ross Stores in the 4th quarter worth $31,000. Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $48,000. Kestra Investment Management LLC bought a new stake in shares of Ross Stores in the fourth quarter valued at approximately $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Ross Stores in the 4th quarter worth approximately $53,000. Institutional investors own 86.86% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. The trade was a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Karen Sykes sold 5,036 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total transaction of $657,097.28. Following the transaction, the chief marketing officer now owns 110,365 shares in the company, valued at $14,400,425.20. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock worth $4,439,950 in the last quarter. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ROST shares. UBS Group reduced 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. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Ross Stores from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Ross Stores from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group lowered their price objective on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $161.53.

Ross Stores Stock Up 0.9%

ROST stock opened at $150.66 on Thursday. The stock’s fifty day simple moving average is $134.76 and its two-hundred day simple moving average is $142.45. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The stock has a market cap of $49.54 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.13 and a beta of 1.17. 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 (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, March 18th. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio is currently 25.63%.

Ross Stores 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.