Tidal Investments LLC Sells 1,794 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Tidal Investments LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,138 shares of the apparel retailer’s stock after selling 1,794 shares during the quarter. Tidal Investments LLC’s holdings in Ross Stores were worth $3,803,000 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 stock. Norges Bank purchased a new stake in Ross Stores in the 4th quarter worth $649,318,000. Price T Rowe Associates Inc. MD lifted its position in shares of Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after buying an additional 2,352,543 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Ross Stores during the 4th quarter valued at approximately $230,204,000. Finally, Royal Bank of Canada increased its stake in Ross Stores by 69.6% in the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer’s stock worth $504,684,000 after acquiring an additional 1,368,571 shares during the last quarter. 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 that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now owns 139,091 shares of the company’s stock, valued at $17,760,529.79. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen Sykes sold 5,036 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total value 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. The trade was a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock worth $4,439,950 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ROST has been the subject of a number of recent research reports. Citigroup raised shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 target price for the company in a report on Thursday, April 3rd. Morgan Stanley lowered their price objective on shares of Ross Stores from $130.00 to $128.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Telsey Advisory Group restated a “market perform” rating and issued a $150.00 target price on shares of Ross Stores in a report on Friday, May 16th. BMO Capital Markets decreased their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Evercore ISI lowered their price target on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.53.

Ross Stores Stock Down 0.0%

Shares of NASDAQ:ROST opened at $154.24 on Wednesday. The firm has a market capitalization of $50.72 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. The business has a 50 day simple moving average of $136.81 and a two-hundred day simple moving average of $142.83. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. 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 (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 1.05%. The ex-dividend date was Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

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.