Allstate Corp Makes New $1.48 Million Investment in Ross Stores, Inc. (NASDAQ:ROST)

Allstate Corp bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,779 shares of the apparel retailer’s stock, valued at approximately $1,479,000.

A number of other institutional investors have also recently made changes to their positions in the business. Peapack Gladstone Financial Corp lifted its stake in shares of Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock valued at $588,000 after purchasing an additional 70 shares during the last quarter. Alhambra Investment Management LLC lifted its position in Ross Stores by 5.2% in the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock worth $234,000 after buying an additional 76 shares during the last quarter. Key Financial Inc increased its position in Ross Stores by 13.2% during the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock valued at $100,000 after acquiring an additional 77 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake 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 valued at $470,000 after acquiring an additional 79 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Ross Stores by 0.3% in the 3rd quarter. Captrust Financial Advisors now owns 31,460 shares of the apparel retailer’s stock worth $4,735,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the firm’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 directly owns 94,063 shares of the company’s stock, valued at approximately $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.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ROST shares. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company reissued a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. Loop Capital cut their price objective on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley decreased their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group cut their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, March 5th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Ross Stores Stock Down 2.8 %

Ross Stores stock opened at $125.42 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The firm has a market cap 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 has a fifty day moving average of $137.81 and a two-hundred day moving average of $144.77. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal 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 dividend of $0.405 per share. This is a boost 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 yield of 1.29%. Ross Stores’s dividend payout ratio is presently 25.63%.

Ross Stores 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.