Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its position in Ross Stores, Inc. (NASDAQ:ROST) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,976 shares of the apparel retailer’s stock after purchasing an additional 295 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Ross Stores were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of 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 purchasing an additional 673,670 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Ross Stores by 1.9% during the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after buying an additional 68,518 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ross Stores by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,077,953 shares of the apparel retailer’s stock valued at $347,655,000 after buying an additional 44,722 shares during the period. Invesco Ltd. raised its holdings in shares of Ross Stores by 4.5% during the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock valued at $251,821,000 after buying an additional 95,386 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Ross Stores by 12.6% during the 3rd quarter. Royal Bank of Canada now owns 2,215,353 shares of the apparel retailer’s stock valued at $250,224,000 after buying an additional 247,513 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ROST. The Goldman Sachs Group raised their target price on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Citigroup boosted their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TD Cowen boosted their price target on Ross Stores from $144.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Guggenheim upped their price objective on Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets upped their price objective on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

Insider Transactions at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the firm’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 in the company, valued at approximately $16,616,788.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 19,014 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $146.39, for a total transaction 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 approximately $17,561,237.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,097 shares of company stock worth $10,396,178. Company insiders own 2.00% of the company’s stock.

Ross Stores Stock Down 0.4 %

ROST stock traded down $0.48 during mid-day trading on Wednesday, hitting $132.61. The stock had a trading volume of 2,330,110 shares, compared to its average volume of 1,988,452. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The company has a fifty day moving average of $143.47 and a 200 day moving average of $135.16. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.90 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 EPS. On average, equities analysts expect that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

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

Ross Stores announced that its board has initiated a stock 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 typically an indication that the company’s board of directors believes its stock is undervalued.

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.