Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 59,450 shares of the apparel retailer’s stock after acquiring an additional 3,789 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ross Stores were worth $8,227,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Ross Stores during the second quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth $29,000. Quarry LP purchased a new stake in shares of Ross Stores during the first quarter worth $29,000. Clearstead Advisors LLC increased its position in shares of Ross Stores by 458.0% during the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 229 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Up 1.2 %

Shares of ROST opened at $133.34 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $143.94 and a 200-day simple moving average of $134.70. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The stock has a market cap of $44.90 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. Ross Stores’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. Equities analysts forecast that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is presently 26.44%.

Ross Stores declared that its board has authorized a stock buyback plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on ROST shares. Loop Capital increased their target price on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets increased their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Robert W. Baird increased 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. Jefferies Financial Group increased their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Finally, UBS Group increased their target price on Ross Stores from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction 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 transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction 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 completion of the transaction, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The disclosure for this sale can be found here. In the last three months, insiders sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.00% of the company’s stock.

Ross Stores Company 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.