Gulf International Bank UK Ltd Sells 3,356 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Gulf International Bank UK Ltd lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,938 shares of the apparel retailer’s stock after selling 3,356 shares during the period. Gulf International Bank UK Ltd’s holdings in Ross Stores were worth $3,866,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in Ross Stores by 9.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after purchasing an additional 76 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Ross Stores by 1.6% in the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock worth $600,000 after purchasing an additional 85 shares during the period. Steph & Co. grew its holdings in Ross Stores by 4.5% in the third quarter. Steph & Co. now owns 2,048 shares of the apparel retailer’s stock worth $231,000 after purchasing an additional 88 shares during the period. Canandaigua National Bank & Trust Co. grew its holdings in Ross Stores by 3.1% in the third quarter. Canandaigua National Bank & Trust Co. now owns 3,021 shares of the apparel retailer’s stock worth $341,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Ross Stores by 14.1% in the third quarter. Global Retirement Partners LLC now owns 783 shares of the apparel retailer’s stock worth $88,000 after purchasing an additional 97 shares during the period. Institutional investors own 84.79% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total value 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 approximately $16,616,788.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patricia H. Mueller sold 2,265 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Ross Stores Stock Performance

NASDAQ ROST opened at $146.98 on Thursday. The company’s 50 day moving average is $143.66 and its 200-day moving average is $130.75. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The firm has a market cap of $49.48 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.04.

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

Ross Stores announced that its board has approved a share buyback plan on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is 26.44%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. BMO Capital Markets lifted their price objective on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Guggenheim lifted their price objective on shares of Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their price objective on shares of Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Telsey Advisory Group lifted their price objective on shares of Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Read Our Latest Research Report on ROST

Ross Stores Company Profile

(Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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