Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,569,718 shares of the apparel retailer’s stock after acquiring an additional 381,790 shares during the quarter. Vanguard Group Inc. owned approximately 8.49% of Ross Stores worth $3,953,763,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of Ross Stores by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock valued at $682,511,000 after acquiring an additional 161,202 shares during the period. Wellington Management Group LLP increased its holdings in shares of Ross Stores by 14.6% in the 4th quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock valued at $653,600,000 after acquiring an additional 601,031 shares during the period. Norges Bank acquired a new position in shares of Ross Stores in the 4th quarter valued at $523,185,000. Northern Trust Corp increased its holdings in shares of Ross Stores by 1.9% in the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after acquiring an additional 68,518 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Ross Stores by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock valued at $251,821,000 after acquiring an additional 95,386 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROST has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Wells Fargo & Company boosted their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Barclays boosted their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Robert W. Baird boosted their price objective on shares of Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.58.

Ross Stores Price Performance

Ross Stores stock opened at $150.38 on Tuesday. Ross Stores, Inc. has a 52 week low of $106.47 and a 52 week high of $151.12. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $136.43 and its 200 day simple moving average is $139.52. The firm has a market capitalization of $50.16 billion, a PE ratio of 25.36, a P/E/G ratio of 2.56 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a $0.3675 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Ross Stores declared that its board has initiated a share buyback plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the transaction, the director now owns 973 shares in the company, valued at $134,634.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,717 shares of company stock worth $7,141,031. Corporate insiders own 2.10% of the company’s stock.

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.