Metis Global Partners LLC Sells 1,062 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Metis Global Partners LLC lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,067 shares of the apparel retailer’s stock after selling 1,062 shares during the period. Metis Global Partners LLC’s holdings in Ross Stores were worth $1,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ROST. Wellington Management Group LLP raised its position in shares of Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after buying an additional 673,670 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Ross Stores by 1.9% in the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after purchasing an additional 68,518 shares during the last quarter. Invesco Ltd. grew its holdings in Ross Stores by 4.5% during the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock worth $251,821,000 after acquiring an additional 95,386 shares during the period. Royal Bank of Canada increased its holdings in Ross Stores by 12.6% in the third quarter. Royal Bank of Canada now owns 2,215,353 shares of the apparel retailer’s stock worth $250,224,000 after purchasing an additional 247,513 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its position in shares of Ross Stores by 18.6% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,916,373 shares of the apparel retailer’s stock valued at $216,454,000 after acquiring an additional 300,000 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of ROST stock opened at $131.58 on Wednesday. The firm has a market cap of $44.30 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.86 and a beta of 1.06. The business’s 50 day moving average price is $140.49 and its 200-day moving average price is $136.29. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. 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 (NASDAQ:ROST) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. On average, equities research analysts anticipate that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores announced that its Board of Directors has initiated a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.3675 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is currently 26.44%.

Insiders Place Their Bets

In other news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the sale, the director now owns 3,166 shares in the company, valued at $468,219.74. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,097 shares of company stock valued at $10,396,178. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ROST has been the subject of several recent research reports. Guggenheim boosted their target price on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley cut their price objective on shares of Ross Stores from $161.00 to $159.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird lifted their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Barclays upped their price target on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets raised their target price on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $155.11.

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.