Alexis Investment Partners LLC Takes Position in Ross Stores, Inc. (NASDAQ:ROST)

Alexis Investment Partners LLC bought a new position in Ross Stores, Inc. (NASDAQ:ROST) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 559 shares of the apparel retailer’s stock, valued at approximately $85,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ROST. Norges Bank bought a new position in shares of Ross Stores in the fourth quarter worth about $649,318,000. Wealthfront Advisers LLC increased its holdings in Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after acquiring 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 worth approximately $230,204,000. Raymond James Financial Inc. purchased a new position in Ross Stores during the fourth quarter valued at approximately $173,329,000. Finally, Nordea Investment Management AB boosted its position in shares of 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. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Barclays set a $150.00 price objective on Ross Stores in a research note on Wednesday, March 5th. Evercore ISI decreased their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Telsey Advisory Group dropped their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $160.87.

Insider Activity at Ross Stores

In related news, Chairman Michael Balmuth sold 11,261 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the transaction, the chairman now directly owns 59,790 shares in the company, valued at approximately $7,868,364. This represents a 15.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,398 shares of company stock worth $4,439,950. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $139.63 on Friday. The firm has a fifty day simple moving average of $133.51 and a two-hundred day simple moving average of $142.94. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. 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 capitalization of $45.91 billion, a P/E ratio of 21.99, a PEG ratio of 2.13 and a beta of 1.11.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS 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 firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. On average, analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.16%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is currently 25.63%.

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.