Avanza Fonder AB Takes $5.13 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

Avanza Fonder AB purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 33,903 shares of the apparel retailer’s stock, valued at approximately $5,129,000.

A number of other large investors have also recently bought and sold shares of the business. Nordea Investment Management AB grew its position in Ross Stores by 137.7% in the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock valued at $299,583,000 after buying an additional 1,144,774 shares during the last quarter. Algert Global LLC raised its holdings in Ross Stores by 917.2% during the third quarter. Algert Global LLC now owns 29,498 shares of the apparel retailer’s stock worth $4,440,000 after purchasing an additional 26,598 shares in the last quarter. Czech National Bank lifted its position in Ross Stores by 5.9% in the fourth quarter. Czech National Bank now owns 71,933 shares of the apparel retailer’s stock valued at $10,881,000 after purchasing an additional 3,981 shares during the period. Retirement Systems of Alabama boosted its holdings in Ross Stores by 251.7% in the 3rd quarter. Retirement Systems of Alabama now owns 260,126 shares of the apparel retailer’s stock valued at $39,152,000 after purchasing an additional 186,161 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Ross Stores by 48.8% during the 3rd quarter. Quantinno Capital Management LP now owns 49,523 shares of the apparel retailer’s stock worth $7,454,000 after purchasing an additional 16,248 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $149.75 on Friday. 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’s 50-day moving average price is $150.08 and its two-hundred day moving average price is $147.74. The stock has a market capitalization of $49.41 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.51 and a beta of 1.10. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.3675 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 0.98%. Ross Stores’s dividend payout ratio is presently 23.15%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ROST shares. Telsey Advisory Group restated a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a research note on Monday, November 18th. Wells Fargo & Company restated an “equal weight” rating and set a $165.00 target price on shares of Ross Stores in a research report on Friday, January 10th. Evercore ISI increased their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Guggenheim reissued a “buy” rating and set a $180.00 price objective on shares of Ross Stores in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.29.

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.