Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,892,289 shares of the apparel retailer’s stock after purchasing an additional 17,813 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.57% of Ross Stores worth $286,247,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in Ross Stores in the fourth quarter valued at approximately $31,000. ORG Partners LLC increased its position in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Ross Stores during the fourth quarter worth approximately $51,000. Finally, Oakworth Capital Inc. purchased a new position in Ross Stores during the fourth quarter worth approximately $57,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research analyst reports. UBS Group dropped their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Citigroup upgraded Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price target for the company in a research note on Thursday, April 3rd. Robert W. Baird reduced their price objective on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets dropped their target price 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. Finally, Evercore ISI reduced their price target on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.87.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $139.63 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $133.48 and its two-hundred day moving average is $142.84. The firm 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, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

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

Insider Activity

In other Ross Stores news, CMO Karen Sykes sold 5,036 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the transaction, the chief marketing officer now directly owns 110,365 shares in the company, valued at $14,400,425.20. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Michael Balmuth sold 11,261 shares of Ross Stores stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now directly owns 59,790 shares in the company, valued at approximately $7,868,364. This trade represents a 15.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,398 shares of company stock worth $4,439,950. Insiders own 2.10% of the company’s stock.

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.