Securian Asset Management Inc. Lowers Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Securian Asset Management Inc. decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,830 shares of the apparel retailer’s stock after selling 618 shares during the period. Securian Asset Management Inc.’s holdings in Ross Stores were worth $2,697,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ROST. Wealthfront Advisers LLC boosted its holdings in shares of Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after purchasing an additional 2,352,543 shares during the period. Wellington Management Group LLP lifted its holdings in Ross Stores by 64.0% during the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after buying an additional 1,507,922 shares during the period. Raymond James Financial Inc. purchased a new stake in Ross Stores during the fourth quarter worth $173,329,000. Nordea Investment Management AB lifted its holdings in Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after buying an additional 1,144,774 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Ross Stores by 4,787.8% during the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock worth $94,783,000 after buying an additional 616,860 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

NASDAQ ROST opened at $126.52 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock’s fifty day moving average price is $144.03 and its 200 day moving average price is $146.97. Ross Stores, Inc. has a 1 year low of $126.44 and a 1 year high of $163.60. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. As a group, equities research analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.28%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

ROST has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Wells Fargo & Company restated a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. Robert W. Baird lowered their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. TD Cowen lowered their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $165.00 target price (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.40.

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 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.