Westpac Banking Corp Reduces Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Westpac Banking Corp lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 62.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,256 shares of the apparel retailer’s stock after selling 2,122 shares during the quarter. Westpac Banking Corp’s holdings in Ross Stores were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ROST. Larson Financial Group LLC lifted its position in Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores in the 4th quarter valued at about $31,000. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 191 shares during the period. Kestra Investment Management LLC purchased a new position in Ross Stores during the 4th quarter worth approximately $51,000. Finally, Oakworth Capital Inc. acquired a new position in Ross Stores during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity

In other news, CMO Karen Sykes sold 5,036 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the transaction, the chief marketing officer now owns 110,365 shares of the company’s stock, valued at $14,400,425.20. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the company’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 94,063 shares in the company, 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. Insiders have sold 34,398 shares of company stock worth $4,439,950 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ROST has been the subject of several research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 price objective (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Telsey Advisory Group lowered their price objective on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 5th. Loop Capital reduced their target price on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Evercore ISI lowered their price target on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Barclays set a $150.00 price objective on Ross Stores in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Ross Stores Trading Down 0.7 %

NASDAQ:ROST opened at $130.31 on Friday. The company has a market capitalization of $42.99 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The stock has a fifty day simple moving average of $135.91 and a 200-day simple moving average of $144.07. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) 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 analysts’ expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. On average, equities research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.24%. Ross Stores’s dividend payout ratio (DPR) is presently 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.