Fisher Asset Management LLC Buys 1,149 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Fisher Asset Management LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,128 shares of the apparel retailer’s stock after purchasing an additional 1,149 shares during the period. Fisher Asset Management LLC’s holdings in Ross Stores were worth $3,201,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Ross Stores by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock valued at $682,511,000 after acquiring an additional 161,202 shares during the last quarter. Wellington Management Group LLP increased its holdings in Ross Stores by 14.6% in the 4th quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after purchasing an additional 601,031 shares in the last quarter. Norges Bank bought a new position in Ross Stores in the fourth quarter valued at about $523,185,000. Northern Trust Corp boosted its stake 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 valued at $415,339,000 after purchasing an additional 68,518 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings 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 purchasing an additional 247,513 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $147.37 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The company’s 50-day moving average is $136.96 and its 200-day moving average is $139.75. The stock has a market capitalization of $49.16 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. Ross Stores, Inc. has a 1 year low of $106.47 and a 1 year high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities research analysts expect that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

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

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.00%. Ross Stores’s payout ratio is 24.79%.

Insider Buying and Selling at Ross Stores

In other news, insider Michael K. Kobayashi sold 13,860 shares of the business’s stock in a transaction dated 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 directly owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Michael J. Hartshorn sold 19,014 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $146.39, for a total value of $2,783,459.46. Following the completion of the sale, the chief operating officer now directly owns 119,962 shares of the company’s stock, valued at $17,561,237.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the transaction, the insider now owns 61,657 shares in the company, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,717 shares of company stock valued at $7,141,031. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROST. Wells Fargo & Company raised their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the company an “overweight” rating in a 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 stock an “overweight” rating in a research note on Friday, May 24th. Guggenheim increased their price objective on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 24th. Loop Capital upped their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays increased their price target on Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.58.

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.