Pacer Advisors Inc. Grows Stake in Ross Stores, Inc. (NASDAQ:ROST)

Pacer Advisors Inc. lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 27.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,333 shares of the apparel retailer’s stock after buying an additional 10,003 shares during the period. Pacer Advisors Inc.’s holdings in Ross Stores were worth $6,412,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ROST. First Capital Advisors Group LLC. purchased a new position in shares of Ross Stores during the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new position in Ross Stores during the fourth quarter valued at $29,000. Quarry LP purchased a new stake in shares of Ross Stores during the first quarter worth about $29,000. Clearstead Advisors LLC increased its stake in shares of Ross Stores by 458.0% during the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares in the last quarter. Finally, Rock Creek Group LP acquired a new position in shares of Ross Stores during the 3rd quarter worth about $35,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Performance

Shares of ROST stock opened at $146.76 on Friday. The business has a 50 day simple moving average of $144.81 and a 200 day simple moving average of $131.76. 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 firm has a market capitalization of $49.41 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.06 and a beta of 1.04. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.81 billion. During the same period in the previous year, the firm earned $1.31 EPS. Ross Stores’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.00%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, March 14th. Ross Stores’s payout ratio is currently 26.44%.

Ross Stores announced that its board has initiated a stock repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ROST shares. Robert W. Baird raised their price objective on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Wells Fargo & Company raised their price target on shares of Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Barclays lifted their price objective on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their target price on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, TD Cowen increased their price target on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.21.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction on Monday, March 18th. The stock was 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 directly 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 SEC, which is accessible through the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of the 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 sale, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.