Clearbridge Investments LLC increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,050,278 shares of the apparel retailer’s stock after purchasing an additional 9,451 shares during the period. Clearbridge Investments LLC owned approximately 0.27% of Ross Stores worth $84,285,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Flossbach Von Storch AG boosted its stake in shares of Ross Stores by 10.7% in the 3rd quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock valued at $357,277,000 after purchasing an additional 532,900 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Ross Stores by 63.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock valued at $437,885,000 after purchasing an additional 2,117,771 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ross Stores by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock valued at $340,012,000 after purchasing an additional 85,983 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ross Stores by 39.2% in the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock valued at $236,257,000 after purchasing an additional 1,029,990 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Ross Stores by 0.6% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,826,871 shares of the apparel retailer’s stock valued at $226,856,000 after purchasing an additional 17,381 shares in the last quarter. 89.58% of the stock is owned by institutional investors.
Ross Stores, Inc. (ROST) opened at $76.43 on Tuesday. 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. The company has a market cap of $29,210.00, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09.
Ross Stores declared that its Board of Directors has approved a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be issued a $0.225 dividend. The ex-dividend date is Friday, March 16th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 annualized dividend and a yield of 1.18%. Ross Stores’s dividend payout ratio is 18.03%.
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Ross Stores from $65.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday, November 17th. Jefferies Group reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Ross Stores in a research note on Wednesday, March 7th. SunTrust Banks reiterated a “buy” rating on shares of Ross Stores in a report on Friday, February 2nd. Morgan Stanley upped their price target on shares of Ross Stores from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, March 7th. Finally, Nomura reiterated a “buy” rating and set a $90.00 price target (up from $80.00) on shares of Ross Stores in a report on Wednesday, January 17th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and a consensus price target of $81.86.
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Ross Stores Profile
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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