Fred Alger Management Inc. grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,561 shares of the apparel retailer’s stock after buying an additional 12,878 shares during the quarter. Fred Alger Management Inc.’s holdings in Ross Stores were worth $5,101,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ROST. Thrivent Financial For Lutherans raised its holdings in Ross Stores by 4.9% during the fourth quarter. Thrivent Financial For Lutherans now owns 202,170 shares of the apparel retailer’s stock worth $16,224,000 after purchasing an additional 9,490 shares during the last quarter. Profund Advisors LLC raised its holdings in Ross Stores by 5.8% during the fourth quarter. Profund Advisors LLC now owns 33,663 shares of the apparel retailer’s stock worth $2,701,000 after purchasing an additional 1,834 shares during the last quarter. MANA Advisors LLC acquired a new position in Ross Stores during the fourth quarter worth $1,023,000. Scotia Capital Inc. raised its holdings in Ross Stores by 279.1% during the fourth quarter. Scotia Capital Inc. now owns 26,506 shares of the apparel retailer’s stock worth $2,127,000 after purchasing an additional 19,514 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in Ross Stores during the fourth quarter worth $216,000. 89.58% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (NASDAQ ROST) opened at $77.01 on Monday. The company has a market capitalization of $29,429.06, a price-to-earnings ratio of 23.06, a PEG ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. Ross Stores, Inc. has a 1 year low of $52.85 and a 1 year high of $85.66.
Ross Stores announced that its board has initiated a share buyback plan on Tuesday, March 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, March 16th. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is 18.03%.
Several equities analysts recently issued reports on ROST shares. Cowen set a $78.00 price objective on Ross Stores and gave the stock a “buy” rating in a report on Saturday, November 18th. Nomura set a $80.00 price objective on Ross Stores and gave the stock a “buy” rating in a report on Friday, November 17th. SunTrust Banks set a $80.00 price objective on Ross Stores and gave the stock a “buy” rating in a report on Friday, November 17th. Telsey Advisory Group reaffirmed a “buy” rating on shares of Ross Stores in a report on Friday, November 17th. Finally, BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.86.
About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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