State of Wyoming Raises Holdings in Ross Stores, Inc. (NASDAQ:ROST)

State of Wyoming lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 306.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,208 shares of the apparel retailer’s stock after purchasing an additional 3,926 shares during the period. State of Wyoming’s holdings in Ross Stores were worth $788,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hahn Capital Management LLC increased its stake in shares of Ross Stores by 40.9% during the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer’s stock worth $11,203,000 after purchasing an additional 21,500 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Ross Stores by 274.3% during the 4th quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer’s stock worth $3,096,000 after purchasing an additional 14,998 shares in the last quarter. FMR LLC increased its stake in shares of Ross Stores by 11.9% during the 4th quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer’s stock worth $1,152,690,000 after purchasing an additional 807,850 shares in the last quarter. Sovran Advisors LLC purchased a new position in shares of Ross Stores during the 4th quarter worth approximately $269,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Ross Stores by 22.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer’s stock worth $431,000 after purchasing an additional 524 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Up 0.7%

Shares of ROST opened at $152.92 on Monday. The firm has a market cap of $50.28 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. The company’s fifty day moving average is $135.64 and its two-hundred day moving average is $142.65. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. 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 quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion for 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%. Analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current 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 issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is 25.63%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ROST shares. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Evercore ISI lowered their target price on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. UBS Group lowered their target price on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Ross Stores in a research note on Friday. Finally, Robert W. Baird lowered their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $161.53.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.73, for a total value of $671,272.47. Following the transaction, the chief marketing officer now owns 94,063 shares in the company, valued at $11,826,540.99. This trade represents a 5.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Balmuth sold 11,261 shares of Ross Stores stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. This trade represents a 15.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,398 shares of company stock worth $4,439,950 in the last quarter. 2.20% of the stock is owned by insiders.

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.