Cresset Asset Management LLC Sells 38,074 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Cresset Asset Management LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 62.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,342 shares of the apparel retailer’s stock after selling 38,074 shares during the period. Cresset Asset Management LLC’s holdings in Ross Stores were worth $3,531,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Ross Stores by 152.9% during 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 position in Ross Stores in the fourth quarter worth $31,000. ORG Partners LLC grew its stake in 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. Cary Street Partners Financial LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Ross Stores during the 4th quarter worth $51,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Evercore ISI reduced their price target 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. Telsey Advisory Group decreased their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research note on Wednesday, March 5th. Barclays set a $150.00 price target on shares of Ross Stores in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Ross Stores from $166.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Citigroup upgraded Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 target price on the stock in a research note on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.73.

Ross Stores Stock Up 0.3 %

Shares of NASDAQ ROST opened at $143.39 on Friday. The business has a 50-day simple moving average of $133.90 and a two-hundred day simple moving average of $142.37. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a market cap of $47.15 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.13 and a beta of 1.17. 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 released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.13%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio is presently 25.63%.

Insider Buying and Selling

In related news, CMO Karen Sykes sold 5,036 shares of the firm’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 sale, the chief marketing officer now directly owns 110,365 shares of the company’s stock, valued at $14,400,425.20. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 7,492 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,398 shares of company stock worth $4,439,950. Corporate insiders own 2.20% 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.