Robeco Institutional Asset Management B.V. Sells 15,094 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Robeco Institutional Asset Management B.V. trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,186 shares of the apparel retailer’s stock after selling 15,094 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ross Stores were worth $3,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROST. Geneos Wealth Management Inc. lifted its position in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares during the last quarter. Rock Creek Group LP bought a new stake in Ross Stores in the 3rd quarter valued at $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in Ross Stores in the 4th quarter valued at $51,000. Finally, Mendota Financial Group LLC bought a new position in Ross Stores during the 4th quarter worth $61,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Price Performance

ROST stock opened at $132.30 on Wednesday. The company has a 50 day simple moving average of $137.50 and a 200 day simple moving average of $137.50. The stock has a market cap of $44.55 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 1.87 and a beta of 1.06. Ross Stores, Inc. has a 1 year low of $100.66 and a 1 year high of $151.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Research analysts anticipate that Ross Stores, Inc. will post 5.88 EPS for the current fiscal year.

Ross Stores declared that its Board of Directors has initiated a share buyback program on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is 26.44%.

Insider Activity

In related news, 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 sale, the insider now directly owns 61,657 shares in the company, valued at approximately $9,091,941.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was 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 of the company’s stock, valued at approximately $9,091,941.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Brian R. Morrow sold 10,734 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock valued at $10,396,178 over the last quarter. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROST. Morgan Stanley reduced their target price on shares of Ross Stores from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. UBS Group raised their target price on shares of Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Loop Capital boosted their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets raised their price objective on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and an average price target of $155.11.

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.