Prudential Financial Inc. Trims Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Prudential Financial Inc. trimmed its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,258 shares of the apparel retailer’s stock after selling 33,678 shares during the period. Prudential Financial Inc. owned about 0.06% of Ross Stores worth $28,780,000 as of its most recent SEC filing.

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

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $128.13 on Wednesday. The business has a fifty day simple moving average of $139.10 and a 200 day simple moving average of $145.26. The firm has a market capitalization of $42.27 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results 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 firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Sell-side analysts expect 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 dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Insider Activity

In other news, CMO Karen Fleming sold 5,339 shares of the firm’s 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 transaction, the chief marketing officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley cut their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company restated a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. BMO Capital Markets reduced their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Evercore ISI decreased their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.