Norinchukin Bank The Purchases 1,560 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Norinchukin Bank The boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,107 shares of the apparel retailer’s stock after purchasing an additional 1,560 shares during the period. Norinchukin Bank The’s holdings in Ross Stores were worth $3,970,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Legacy Wealth Asset Management LLC grew its stake in Ross Stores by 1.2% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 6,835 shares of the apparel retailer’s stock worth $820,000 after acquiring an additional 84 shares in the last quarter. Regentatlantic Capital LLC grew its stake in Ross Stores by 4.0% in the 4th quarter. Regentatlantic Capital LLC now owns 2,494 shares of the apparel retailer’s stock worth $306,000 after acquiring an additional 95 shares in the last quarter. CAPROCK Group Inc. grew its stake in Ross Stores by 4.7% in the 1st quarter. CAPROCK Group Inc. now owns 2,134 shares of the apparel retailer’s stock worth $256,000 after acquiring an additional 96 shares in the last quarter. San Francisco Sentry Investment Group CA grew its stake in Ross Stores by 14.2% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 794 shares of the apparel retailer’s stock worth $96,000 after acquiring an additional 99 shares in the last quarter. Finally, Marco Investment Management LLC grew its stake in Ross Stores by 1.5% in the 1st quarter. Marco Investment Management LLC now owns 6,625 shares of the apparel retailer’s stock worth $794,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group increased their price objective on shares of Ross Stores from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, May 17th. UBS Group increased their price objective on shares of Ross Stores from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ross Stores from $133.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, May 21st. Northcoast Research upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $147.00 price objective on the stock in a research note on Wednesday, May 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ross Stores from $127.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, May 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $131.43.

Shares of Ross Stores stock opened at $117.97 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $126.10. Ross Stores, Inc. has a 1 year low of $79.65 and a 1 year high of $134.21. The stock has a market capitalization of $42.07 billion, a PE ratio of 48.35, a PEG ratio of 2.88 and a beta of 1.03.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Wednesday, May 19th. The apparel retailer reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.44. Ross Stores had a net margin of 5.71% and a return on equity of 32.44%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter last year, the company posted ($0.29) earnings per share. The firm’s revenue was up 145.1% compared to the same quarter last year. On average, analysts predict that Ross Stores, Inc. will post 4.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 8th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, June 7th. This represents a $1.14 annualized dividend and a yield of 0.97%. Ross Stores’s dividend payout ratio is presently 97.44%.

Ross Stores announced that its board has approved a stock buyback plan on Thursday, May 20th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, insider Michael K. Kobayashi sold 1,459 shares of the firm’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $119.17, for a total transaction of $173,869.03. Following the sale, the insider now owns 82,633 shares in the company, valued at $9,847,374.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Travis Marquette sold 951 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $122.62, for a total transaction of $116,611.62. Following the sale, the chief financial officer now owns 71,271 shares in the company, valued at approximately $8,739,250.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,741 shares of company stock worth $24,497,649. 2.00% of the stock is owned by company insiders.

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 brands. 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 regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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