Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 70.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,319 shares of the apparel retailer’s stock after selling 14,797 shares during the period. AlphaQuest LLC’s holdings in Ross Stores were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ROST. Wellington Management Group LLP boosted its holdings in Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares during the period. Raymond James Financial Inc. acquired a new position in Ross Stores in the fourth quarter worth $173,329,000. Nordea Investment Management AB boosted its holdings in Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after purchasing an additional 1,144,774 shares during the period. Public Sector Pension Investment Board boosted its holdings in Ross Stores by 4,787.8% in the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock worth $94,783,000 after purchasing an additional 616,860 shares during the period. Finally, Sarasin & Partners LLP acquired a new position in Ross Stores in the fourth quarter worth $86,732,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $132.12 on Tuesday. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The firm’s 50-day simple moving average is $144.98 and its 200 day simple moving average is $147.30. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a market cap of $43.59 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.23%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research reports. Barclays set a $150.00 price objective on shares of Ross Stores in a report on Wednesday, March 5th. Guggenheim reiterated a “buy” rating and issued a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Morgan Stanley cut their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets cut their target price on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.40.

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.