Primecap Management Co. CA Has $1.57 Billion Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Primecap Management Co. CA lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,364,825 shares of the apparel retailer’s stock after selling 171,142 shares during the period. Ross Stores makes up 1.2% of Primecap Management Co. CA’s investment portfolio, making the stock its 23rd biggest holding. Primecap Management Co. CA owned about 3.14% of Ross Stores worth $1,567,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ross Stores in the 4th quarter worth about $31,000. ORG Partners LLC raised its holdings in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Ross Stores in the 4th quarter worth about $51,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Ross Stores in the 4th quarter worth about $57,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Up 1.1 %

ROST opened at $125.54 on Tuesday. The company has a 50 day moving average of $142.26 and a 200 day moving average of $146.34. The company has a market cap of $41.42 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12 month low of $122.77 and a 12 month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. On average, sell-side analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.29%. Ross Stores’s dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $165.00 price objective (down from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Barclays set a $150.00 price objective on shares of Ross Stores in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group reduced their price objective on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.40.

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.