BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 133.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ROST. Norges Bank purchased a new position in Ross Stores during the fourth quarter worth about $523,185,000. First Trust Advisors LP raised its stake in shares of Ross Stores by 515.8% in the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after acquiring an additional 1,471,585 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Ross Stores by 1,437.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock valued at $142,039,000 after acquiring an additional 959,594 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Ross Stores in the 4th quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP raised its stake in shares of Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after acquiring an additional 673,670 shares during the period. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Up 0.2 %

NASDAQ ROST traded up $0.30 on Wednesday, hitting $147.13. 236,181 shares of the stock were exchanged, compared to its average volume of 2,263,742. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a fifty-two week low of $108.35 and a fifty-two week high of $151.12. The company 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 company has a 50-day moving average price of $140.49 and a 200-day moving average price of $140.93.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results 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 company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Tuesday, June 11th. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ROST shares. Wells Fargo & Company boosted their price target 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. UBS Group boosted their price target 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. Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a research note on Friday, June 14th. TD Cowen boosted their price target on shares of Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Guggenheim boosted their price target on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.06.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

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.