Polar Asset Management Partners Inc. Buys Shares of 67,600 Ross Stores, Inc. (NASDAQ:ROST)

Polar Asset Management Partners Inc. bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 67,600 shares of the apparel retailer’s stock, valued at approximately $10,226,000.

Several other institutional investors have also added to or reduced their stakes in ROST. Larson Financial Group LLC boosted 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 buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores during the fourth quarter valued at about $31,000. Cary Street Partners Financial LLC bought a new stake in Ross Stores during the fourth quarter valued at about $48,000. Kestra Investment Management LLC bought a new stake in shares of Ross Stores in the fourth quarter worth about $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Ross Stores in the fourth quarter worth about $53,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

ROST opened at $150.66 on Thursday. 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 company has a market cap of $49.54 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.13 and a beta of 1.17. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The firm’s fifty day simple moving average is $134.76 and its two-hundred day simple moving average is $142.45.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data 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. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Equities analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. Ross Stores’s payout ratio is 25.63%.

Insider Activity

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the business’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 completion of the transaction, the chief operating officer now owns 139,091 shares in the company, valued at $17,760,529.79. The trade was a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael Balmuth sold 11,261 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the sale, the chairman now owns 59,790 shares of the company’s stock, valued at $7,868,364. This represents a 15.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,398 shares of company stock valued at $4,439,950. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the subject of several recent research reports. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on Ross Stores from $166.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Barclays lifted their price target on Ross Stores from $150.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group dropped their target price on Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Robert W. Baird dropped their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.53.

About Ross Stores

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.