Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 84.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,460 shares of the apparel retailer’s stock after selling 97,013 shares during the quarter. Meeder Asset Management Inc.’s holdings in Ross Stores were worth $2,641,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Hahn Capital Management LLC boosted its position in shares of Ross Stores by 40.9% during the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer’s stock worth $11,203,000 after purchasing an additional 21,500 shares in the last quarter. Sovran Advisors LLC purchased a new stake in Ross Stores during the fourth quarter worth about $269,000. Oppenheimer & Co. Inc. grew its position in Ross Stores by 22.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer’s stock worth $431,000 after buying an additional 524 shares during the period. Oak Ridge Investments LLC grew its holdings in shares of Ross Stores by 10.6% in the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock worth $17,524,000 after acquiring an additional 11,060 shares during the period. Finally, Nordea Investment Management AB raised 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 purchasing an additional 1,144,774 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Michael J. Hartshorn sold 7,492 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at approximately $17,760,529.79. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Karen Fleming sold 5,339 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the transaction, the chief marketing officer now owns 94,063 shares in the company, valued at $11,826,540.99. This represents a 5.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $125.42 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The firm has a market capitalization of $41.38 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.13 and a beta of 1.15. The business’s 50-day simple moving average is $137.81 and its 200-day simple moving average is $144.77.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $0.405 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.29%. Ross Stores’s dividend payout ratio is presently 25.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on ROST. Morgan Stanley cut their price target on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group cut their price objective on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday, March 5th. Evercore ISI cut their price target on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Robert W. Baird dropped their price objective on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Barclays set a $150.00 price target on shares of Ross Stores in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.