Maryland State Retirement & Pension System Has $3.62 Million Stake in Ross Stores, Inc. (NASDAQ:ROST)

Maryland State Retirement & Pension System grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,133 shares of the apparel retailer’s stock after purchasing an additional 489 shares during the period. Maryland State Retirement & Pension System’s holdings in Ross Stores were worth $3,617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. grew 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 valued at $33,000 after purchasing an additional 83 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after buying an additional 229 shares in the last quarter. Rock Creek Group LP acquired a new position in Ross Stores in the third quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth $51,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ROST shares. Robert W. Baird raised their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Barclays raised their price target on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” 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. BMO Capital Markets raised their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group lifted their price target on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.11.

Ross Stores Trading Down 0.6 %

NASDAQ ROST traded down $0.83 on Tuesday, reaching $131.65. The company had a trading volume of 1,232,607 shares, compared to its average volume of 2,067,313. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The stock’s 50 day moving average is $140.85 and its 200-day moving average is $136.18. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The stock has a market cap of $44.33 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.86 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating 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 firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.3675 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is 26.44%.

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

Insider Activity

In other news, insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction 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 sale, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction dated 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 transaction, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock worth $10,396,178 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.