Twinbeech Capital LP Boosts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Twinbeech Capital LP boosted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 125.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 336,574 shares of the apparel retailer’s stock after acquiring an additional 187,020 shares during the quarter. Twinbeech Capital LP’s holdings in Ross Stores were worth $50,914,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ROST. Norges Bank purchased a new position in Ross Stores during the 4th quarter valued at $649,318,000. Price T Rowe Associates Inc. MD boosted its holdings in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock valued at $2,952,170,000 after acquiring an additional 3,995,760 shares during the period. Wealthfront Advisers LLC boosted its holdings in Ross Stores by 8,209.0% during the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after acquiring an additional 2,352,543 shares during the period. Madison Investment Advisors LLC purchased a new stake in shares of Ross Stores in the 4th quarter worth $230,204,000. Finally, Royal Bank of Canada lifted its holdings in shares of Ross Stores by 69.6% in the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer’s stock worth $504,684,000 after buying an additional 1,368,571 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Up 0.7%

Shares of NASDAQ:ROST opened at $152.92 on Monday. The business’s 50-day moving average is $135.64 and its 200 day moving average is $142.65. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The firm has a market capitalization of $50.28 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.

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, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. On average, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed 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 was Tuesday, March 18th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.06%. Ross Stores’s dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ROST. JPMorgan Chase & Co. lowered their target price on Ross Stores from $166.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their target price on Ross Stores from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company upped their target price on Ross Stores from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Loop Capital lowered their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Robert W. Baird lowered their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.53.

Insider Activity

In other news, Chairman Michael Balmuth sold 11,261 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the transaction, the chairman now directly owns 59,790 shares of the company’s stock, valued at approximately $7,868,364. This represents a 15.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,398 shares of company stock valued at $4,439,950. Company insiders own 2.20% of the company’s stock.

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.