Sumitomo Mitsui DS Asset Management Company Ltd Purchases 396 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,513 shares of the apparel retailer’s stock after acquiring an additional 396 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ross Stores were worth $4,223,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. HTLF Bank bought a new stake in Ross Stores in the fourth quarter worth about $1,094,000. Raymond James & Associates lifted its stake in shares of Ross Stores by 5.7% during the 4th quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock worth $41,832,000 after acquiring an additional 16,167 shares during the last quarter. NBC Securities Inc. purchased a new position in Ross Stores during the 3rd quarter valued at $503,000. Sequoia Financial Advisors LLC bought a new position in Ross Stores in the 4th quarter valued at $2,291,000. Finally, California Public Employees Retirement System increased its stake in Ross Stores by 4.7% in the third quarter. California Public Employees Retirement System now owns 673,713 shares of the apparel retailer’s stock worth $76,096,000 after purchasing an additional 30,056 shares during the period. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upped their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. TD Cowen lifted their price target on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird lifted their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.21.

Ross Stores Price Performance

Shares of ROST opened at $133.77 on Tuesday. The firm has a market capitalization of $45.04 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The company’s fifty day moving average price is $143.71 and its 200-day moving average price is $135.01. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.10%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s payout ratio is presently 26.44%.

Ross Stores announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now directly owns 114,488 shares in the company, valued at $16,616,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the transaction, the director now directly owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock valued at $10,396,178 in the last ninety days. Insiders own 2.00% of the company’s stock.

Ross Stores 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.