Ross Stores, Inc. (NASDAQ:ROST) Position Increased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 133.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,595 shares of the apparel retailer’s stock after purchasing an additional 13,484 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Ross Stores were worth $3,463,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ROST. Riverview Trust Co bought a new position in shares of Ross Stores during the first quarter worth about $26,000. Rise Advisors LLC bought a new position in shares of Ross Stores during the first quarter worth about $27,000. Geneos Wealth Management Inc. grew its position in shares of Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Ross Stores during the fourth quarter worth about $51,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

ROST has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. UBS Group upped their price objective on shares of Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Barclays upped their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Evercore ISI upped their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, TD Cowen upped their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.06.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, 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 sale, the director now directly owns 973 shares of the company’s stock, valued at $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

NASDAQ ROST traded up $0.30 on Wednesday, reaching $147.13. The company’s stock had a trading volume of 236,181 shares, compared to its average volume of 2,263,742. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. Ross Stores, Inc. has a twelve month low of $108.35 and a twelve month high of $151.12. The stock has a market cap of $49.08 billion, a PE ratio of 24.76, a PEG ratio of 2.57 and a beta of 1.08. The firm’s 50 day moving average is $140.49 and its two-hundred day moving average is $140.93.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, June 11th. Ross Stores’s dividend payout ratio is presently 24.79%.

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.