Victory Capital Management Inc. Sells 412,556 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Victory Capital Management Inc. lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,011,462 shares of the apparel retailer’s stock after selling 412,556 shares during the period. Ross Stores comprises about 0.6% of Victory Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Victory Capital Management Inc. owned 1.19% of Ross Stores worth $555,146,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ROST. Robeco Institutional Asset Management B.V. boosted its position in shares of Ross Stores by 33.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 37,280 shares of the apparel retailer’s stock valued at $4,211,000 after purchasing an additional 9,271 shares during the period. Xponance Inc. lifted its stake in Ross Stores by 2.6% during the third quarter. Xponance Inc. now owns 78,129 shares of the apparel retailer’s stock valued at $8,825,000 after buying an additional 1,945 shares in the last quarter. Mission Wealth Management LP acquired a new position in shares of Ross Stores in the third quarter worth about $469,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Ross Stores by 1.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 109,195 shares of the apparel retailer’s stock worth $12,334,000 after acquiring an additional 1,982 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Ross Stores by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 3,077,953 shares of the apparel retailer’s stock worth $347,655,000 after acquiring an additional 44,722 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Insider Buying and Selling at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the company’s 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 sale, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores 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 transaction, the director now directly owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michael J. Hartshorn sold 21,056 shares of the 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 directly owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock worth $10,396,178 over the last 90 days. Insiders own 2.10% of the company’s stock.

Ross Stores Stock Down 0.8 %

Shares of Ross Stores stock traded down $1.09 during midday trading on Wednesday, reaching $128.46. 1,095,733 shares of the company’s stock traded hands, compared to its average volume of 2,014,160. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The company’s 50 day simple moving average is $142.22 and its 200 day simple moving average is $135.82. The company has a market cap of $43.25 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04.

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

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

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a yield of 1.14%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is presently 26.44%.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of recent analyst reports. UBS Group raised their price objective 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. Telsey Advisory Group raised their target price on Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Guggenheim upped their price target on Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Loop Capital increased their price objective on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, TD Cowen lifted their target price on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

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