LGT Capital Partners LTD. Increases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

LGT Capital Partners LTD. raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 95.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 909,527 shares of the apparel retailer’s stock after purchasing an additional 443,932 shares during the period. Ross Stores makes up about 3.8% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 9th biggest holding. LGT Capital Partners LTD. owned about 0.27% of Ross Stores worth $125,869,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. First Capital Advisors Group LLC. bought a new stake in shares of Ross Stores in the second quarter valued at about $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at approximately $29,000. Quarry LP bought a new position in Ross Stores in the 1st quarter valued at approximately $29,000. Clearstead Advisors LLC lifted its stake in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares during the last quarter. Finally, Rock Creek Group LP bought a new position in Ross Stores in the third quarter valued at about $35,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Down 0.3 %

ROST stock opened at $146.76 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The business has a 50 day simple moving average of $144.81 and a two-hundred day simple moving average of $131.76. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The company has a market capitalization of $49.41 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.09 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business earned $1.31 EPS. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.3675 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.00%. Ross Stores’s payout ratio is 26.44%.

Ross Stores announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup lifted their target price on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets boosted their target price on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. TD Cowen boosted their price objective on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Robert W. Baird boosted their target price on shares of Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Insider Activity at Ross Stores

In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the sale, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.