O Shaughnessy Asset Management LLC Lowers Holdings in Ross Stores, Inc. (NASDAQ:ROST)

O Shaughnessy Asset Management LLC reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 31,711 shares of the apparel retailer’s stock after selling 1,703 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Ross Stores were worth $4,797,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ROST. Norges Bank purchased a new position in Ross Stores during the 4th quarter valued at about $649,318,000. Wealthfront Advisers LLC raised its stake in Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after buying an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Ross Stores during the 4th quarter valued at $230,204,000. Wellington Management Group LLP increased its holdings in shares of Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after acquiring an additional 1,507,922 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Ross Stores in the 4th quarter worth $173,329,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Up 2.5 %

Shares of ROST opened at $132.37 on Thursday. The company has a market capitalization of $43.67 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The stock’s 50-day moving average price is $136.63 and its 200-day moving average price is $144.32. The company has a quick ratio of 0.98, a current ratio of 1.57 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 business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $0.405 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a yield of 1.22%. Ross Stores’s payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ROST. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. Loop Capital dropped their price target on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets decreased their price objective on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Barclays set a $150.00 target price on shares of Ross Stores in a research report on Wednesday, March 5th. Finally, Robert W. Baird decreased their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Insiders Place Their Bets

In related news, CMO Karen Fleming sold 5,339 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the completion of the transaction, the chief marketing officer now owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. This represents a 5.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,101 shares of company stock worth $2,300,905. Company insiders own 2.10% of the company’s stock.

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.