CIBC Private Wealth Group LLC Has $64.51 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

CIBC Private Wealth Group LLC cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 3.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 417,173 shares of the apparel retailer’s stock after selling 12,915 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ross Stores were worth $64,507,000 at the end of the most recent quarter.

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

Insider Activity

In other news, COO Michael J. Hartshorn sold 7,492 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value 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 approximately $17,760,529.79. The trade was a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at approximately $11,826,540.99. This represents a 5.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed a “negative” rating on shares of Ross Stores in a research report on Wednesday, March 5th. Evercore ISI cut their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Loop Capital lowered their price target on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $165.00 price objective (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Finally, Barclays set a $150.00 target price on shares of Ross Stores in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.40.

Ross Stores Trading Down 2.8 %

Shares of Ross Stores stock opened at $125.42 on Monday. The company’s 50-day moving average price is $137.81 and its 200-day moving average price is $144.77. The company has a market cap of $41.38 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12-month low of $122.36 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 announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating the consensus estimate 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 net margin of 9.95% and a return on equity of 41.83%. On average, equities analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

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

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.