Global Retirement Partners LLC Decreases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Global Retirement Partners LLC trimmed its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658 shares of the apparel retailer’s stock after selling 125 shares during the period. Global Retirement Partners LLC’s holdings in Ross Stores were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ROST. Norges Bank acquired a new stake in Ross Stores during the fourth quarter worth about $369,081,000. Morgan Stanley raised its stake in Ross Stores by 84.6% during the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock worth $550,429,000 after acquiring an additional 2,173,922 shares during the period. Holocene Advisors LP bought a new position in Ross Stores in the 2nd quarter worth about $204,584,000. JPMorgan Chase & Co. grew its position in Ross Stores by 21.0% in the 1st quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock worth $640,624,000 after purchasing an additional 1,048,817 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after purchasing an additional 673,670 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of ROST opened at $139.53 on Friday. The company’s fifty day moving average is $145.40 and its 200-day moving average is $133.01. Ross Stores, Inc. has a 12 month low of $99.00 and a 12 month high of $151.12. The firm has a market cap of $46.98 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping 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 prior year, the business posted $1.31 EPS. Ross Stores’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts expect that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.3675 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s dividend payout ratio (DPR) is presently 26.44%.

Ross Stores declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on ROST shares. BMO Capital Markets upped their target price on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Wells Fargo & Company upped their target price on shares of Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Evercore ISI upped their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays upped their target price on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Citigroup increased their price objective on shares of Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Insider Activity at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the transaction, the director now owns 3,166 shares in the company, valued at $468,219.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the transaction, the insider now directly owns 61,657 shares in the company, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is owned by insiders.

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.