Pictet Asset Management Holding SA Sells 4,909 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Pictet Asset Management Holding SA lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,275 shares of the apparel retailer’s stock after selling 4,909 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ross Stores were worth $22,430,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ROST. Principal Financial Group Inc. increased its stake in shares of Ross Stores by 8.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer’s stock worth $295,857,000 after purchasing an additional 151,255 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Ross Stores by 32.0% in the third quarter. CreativeOne Wealth LLC now owns 2,904 shares of the apparel retailer’s stock valued at $437,000 after buying an additional 704 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ross Stores by 1.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,535 shares of the apparel retailer’s stock worth $9,262,000 after acquiring an additional 835 shares during the period. Captrust Financial Advisors increased its holdings in Ross Stores by 0.3% in the 3rd quarter. Captrust Financial Advisors now owns 31,460 shares of the apparel retailer’s stock worth $4,735,000 after acquiring an additional 89 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in Ross Stores by 101.5% in the 3rd quarter. Edgestream Partners L.P. now owns 5,761 shares of the apparel retailer’s stock valued at $867,000 after acquiring an additional 2,902 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

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 transaction, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at $17,760,529.79. The trade was a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the sale, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at $11,826,540.99. The trade was a 5.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $127.79 on Tuesday. The firm has a 50 day simple moving average of $137.38 and a two-hundred day simple moving average of $144.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock has a market cap of $42.16 billion, a PE ratio of 20.12, a P/E/G ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.405 per share. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI cut their target price on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Barclays set a $150.00 price objective on shares of Ross Stores in a research note on Wednesday, March 5th. Robert W. Baird dropped their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Loop Capital decreased their price objective on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.40.

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.