State of Tennessee Treasury Department Acquires 80,000 Shares of Ross Stores, Inc. (NASDAQ:ROST)

State of Tennessee Treasury Department lifted its holdings in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 76.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 184,872 shares of the apparel retailer’s stock after acquiring an additional 80,000 shares during the quarter. State of Tennessee Treasury Department owned 0.05% of Ross Stores worth $25,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ROST. Elo Mutual Pension Insurance Co raised its holdings in Ross Stores by 3.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 29,564 shares of the apparel retailer’s stock valued at $4,091,000 after buying an additional 1,001 shares during the last quarter. Sei Investments Co. raised its holdings in Ross Stores by 16.6% during the 4th quarter. Sei Investments Co. now owns 313,126 shares of the apparel retailer’s stock valued at $43,333,000 after buying an additional 44,643 shares during the last quarter. EHP Funds Inc. bought a new stake in Ross Stores during the 4th quarter valued at $720,000. Quadrature Capital Ltd bought a new stake in Ross Stores during the 4th quarter valued at $12,797,000. Finally, Seven Eight Capital LP bought a new stake in Ross Stores during the 4th quarter valued at $948,000. 86.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Evercore ISI boosted their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Telsey Advisory Group reissued a “market perform” rating and set a $160.00 price objective on shares of Ross Stores in a research report on Friday, May 24th. Morgan Stanley boosted their price objective on shares of Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Loop Capital boosted their price objective on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.58.

Check Out Our Latest Research Report on Ross Stores

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the sale, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at $468,219.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares of the company’s stock, valued at $134,634.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,038 shares of company stock worth $10,526,384. Company insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST opened at $144.76 on Tuesday. The company’s 50-day simple moving average is $135.90 and its two-hundred day simple moving average is $138.96. Ross Stores, Inc. has a 52-week low of $104.14 and a 52-week high of $151.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The stock has a market capitalization of $48.74 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.53 and a beta of 1.08.

Ross Stores (NASDAQ:ROSTGet Free Report) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business earned $1.09 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, analysts predict that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s payout ratio is 24.79%.

Ross Stores announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Ross Stores 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 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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