Korea Investment CORP Sells 24,627 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Korea Investment CORP decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,766 shares of the apparel retailer’s stock after selling 24,627 shares during the quarter. Korea Investment CORP owned about 0.07% of Ross Stores worth $34,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ROST. Peapack Gladstone Financial Corp increased its holdings in shares of Ross Stores by 1.8% in the third quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock worth $588,000 after purchasing an additional 70 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Ross Stores by 19.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock valued at $71,000 after acquiring an additional 76 shares in the last quarter. Alhambra Investment Management LLC boosted its position in shares of Ross Stores by 5.2% during the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock valued at $234,000 after acquiring an additional 76 shares during the last quarter. Key Financial Inc grew its holdings in shares of Ross Stores by 13.2% during the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock worth $100,000 after purchasing an additional 77 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its position in shares of Ross Stores by 2.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer’s stock worth $470,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $125.42 on Friday. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The stock 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 company’s 50-day moving average is $137.81 and its 200 day moving average is $144.85. 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 (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, sell-side analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.29%. Ross Stores’s dividend payout ratio is currently 25.63%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on ROST shares. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a research report on Wednesday, March 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $165.00 price objective (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Morgan Stanley reduced their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Loop Capital dropped their price target on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and a consensus 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.