Zacks Investment Management Boosts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Zacks Investment Management increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,186 shares of the apparel retailer’s stock after buying an additional 1,351 shares during the period. Zacks Investment Management’s holdings in Ross Stores were worth $9,510,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after acquiring an additional 1,507,922 shares during the period. Los Angeles Capital Management LLC grew its holdings in Ross Stores by 68.8% in the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after purchasing an additional 975,190 shares during the period. Public Sector Pension Investment Board increased its position in shares of Ross Stores by 4,787.8% in the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock valued at $94,783,000 after buying an additional 616,860 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Ross Stores by 59.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,261,102 shares of the apparel retailer’s stock worth $183,263,000 after buying an additional 469,717 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Ross Stores by 27.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,814,440 shares of the apparel retailer’s stock valued at $263,675,000 after buying an additional 394,774 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $156.48 on Friday. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60. The business has a fifty day moving average of $145.68 and a two-hundred day moving average of $146.15. The stock has a market cap of $51.91 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. 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 issued its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. As a group, research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.3675 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 0.94%. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ROST shares. Telsey Advisory Group reissued a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a report on Monday, November 18th. Guggenheim restated a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research report on Friday, November 22nd. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, UBS Group boosted their price target on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

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.