LPL Financial LLC Lowers Position in Ross Stores, Inc. (NASDAQ:ROST)

LPL Financial LLC trimmed its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 38.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 243,270 shares of the apparel retailer’s stock after selling 149,831 shares during the period. LPL Financial LLC’s holdings in Ross Stores were worth $36,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Ross Stores in the fourth quarter valued at $17,221,000. Mizuho Securities USA LLC increased its stake in shares of Ross Stores by 45.4% in the 4th quarter. Mizuho Securities USA LLC now owns 31,444 shares of the apparel retailer’s stock valued at $4,757,000 after purchasing an additional 9,813 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Ross Stores in the 4th quarter worth about $1,893,000. Teacher Retirement System of Texas boosted its position in Ross Stores by 7.4% during the fourth quarter. Teacher Retirement System of Texas now owns 438,373 shares of the apparel retailer’s stock worth $66,313,000 after purchasing an additional 30,180 shares in the last quarter. Finally, First National Bank of Hutchinson grew its holdings in Ross Stores by 3.7% in the fourth quarter. First National Bank of Hutchinson now owns 8,553 shares of the apparel retailer’s stock valued at $1,294,000 after purchasing an additional 306 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 7,492 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the sale, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. The trade was a 5.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Ross Stores Stock Performance

NASDAQ ROST opened at $125.42 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock’s fifty day moving average is $137.81 and its two-hundred day moving average is $144.85. The firm has a market capitalization of $41.38 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.95 billion. On average, research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reaffirmed a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird dropped their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Sanford C. Bernstein restated a “market perform” rating and set a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Finally, BMO Capital Markets lowered their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average 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.