iA Global Asset Management Inc. Decreases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

iA Global Asset Management Inc. cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 26.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,759 shares of the apparel retailer’s stock after selling 12,893 shares during the quarter. iA Global Asset Management Inc.’s holdings in Ross Stores were worth $5,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores in the 4th quarter worth $31,000. ORG Partners LLC increased its stake in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Ross Stores in the 4th quarter worth $51,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Ross Stores in the 4th quarter worth $57,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Down 1.1 %

ROST opened at $124.60 on Friday. The firm has a 50-day simple moving average of $140.53 and a two-hundred day simple moving average of $145.86. Ross Stores, Inc. has a 52 week low of $122.77 and a 52 week high of $163.60. The company has a market capitalization of $41.11 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

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

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $0.405 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.30%. Ross Stores’s dividend payout ratio (DPR) is presently 25.63%.

Insider Activity at Ross Stores

In related news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total value of $671,272.47. Following the sale, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at $11,826,540.99. This represents a 5.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ROST shares. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 price objective (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Guggenheim reaffirmed a “buy” rating and issued a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Finally, Morgan Stanley dropped their target price on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $161.40.

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.