Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,955 shares of the apparel retailer’s stock after selling 47,758 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Ross Stores worth $86,626,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. 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 valued at $465,563,000 after acquiring an additional 673,670 shares in the last quarter. Northern Trust Corp grew its position in shares of Ross Stores by 1.9% during the third quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock worth $415,339,000 after buying an additional 68,518 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Ross Stores by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 3,077,953 shares of the apparel retailer’s stock worth $347,655,000 after buying an additional 44,722 shares in the last quarter. Invesco Ltd. grew its position in shares of Ross Stores by 4.5% during the third quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock worth $251,821,000 after buying an additional 95,386 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Ross Stores by 12.6% during the third quarter. Royal Bank of Canada now owns 2,215,353 shares of the apparel retailer’s stock worth $250,224,000 after buying an additional 247,513 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other news, Director Patricia H. Mueller sold 2,265 shares of the company’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 sale, the director now owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Michael J. Hartshorn sold 21,056 shares of the company’s 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 transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Telsey Advisory Group boosted their price objective on Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Citigroup boosted their price objective on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. UBS Group boosted their price objective on Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, BMO Capital Markets boosted their target price 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 analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Ross Stores Price Performance

Ross Stores stock opened at $132.61 on Thursday. Ross Stores, Inc. has a 12 month low of $99.00 and a 12 month 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. The business has a 50 day simple moving average of $143.24 and a 200-day simple moving average of $135.14. The stock has a market capitalization of $44.65 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

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 the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores declared that its Board of Directors has authorized a share buyback program on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Ross Stores Increases Dividend

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

About Ross Stores

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.