Ontario Teachers Pension Plan Board Has $2.67 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Ontario Teachers Pension Plan Board trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,308 shares of the apparel retailer’s stock after selling 9,276 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Ross Stores were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Ross Stores by 93.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer’s stock valued at $2,019,000 after acquiring an additional 7,033 shares during the last quarter. HTLF Bank bought a new position in shares of Ross Stores in the fourth quarter valued at approximately $1,094,000. Raymond James & Associates raised its stake in shares of Ross Stores by 5.7% in the fourth quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock valued at $41,832,000 after acquiring an additional 16,167 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Ross Stores in the third quarter valued at approximately $503,000. Finally, National Pension Service raised its position in Ross Stores by 2.9% in the 4th quarter. National Pension Service now owns 782,739 shares of the apparel retailer’s stock worth $108,323,000 after purchasing an additional 21,984 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROST. Robert W. Baird boosted their price objective on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Jefferies Financial Group boosted their price target on shares of Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. UBS Group upped their target price on shares of Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. BMO Capital Markets upped their target price on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI upped their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.11.

Insider Activity at Ross Stores

In related news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at $9,155,806. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock valued at $10,396,178 in the last quarter. Insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST traded up $0.76 on Thursday, reaching $132.27. 752,795 shares of the company’s stock were exchanged, compared to its average volume of 2,107,366. The company has a fifty day moving average of $137.19 and a 200-day moving average of $137.46. Ross Stores, Inc. has a twelve month low of $100.66 and a twelve month high of $151.12. The company has a market capitalization of $44.54 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.99 and a beta of 1.06. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.19. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $1.31 EPS. On average, research analysts predict that Ross Stores, Inc. will post 5.88 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.11%. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.