TimesSquare Capital Management LLC Has $87.43 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

TimesSquare Capital Management LLC lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 631,775 shares of the apparel retailer’s stock after buying an additional 37,665 shares during the quarter. Ross Stores comprises about 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 21st largest holding. TimesSquare Capital Management LLC owned approximately 0.19% of Ross Stores worth $87,431,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ROST. Clearstead Advisors LLC grew its holdings in shares of Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after buying an additional 83 shares in the last quarter. Rock Creek Group LP acquired a new position in shares of Ross Stores in the 3rd quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Ross Stores during the 4th quarter worth approximately $51,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at $61,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ROST shares. Guggenheim boosted their price target on Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird boosted their price objective on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their target price on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays upped their price objective on shares of Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Loop Capital raised their target price on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $155.11.

Insiders Place Their Bets

In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Brian R. Morrow sold 10,734 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the sale, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.10% of the stock is currently owned by company insiders.

Ross Stores Price Performance

ROST traded up $2.11 during trading on Thursday, reaching $134.87. The stock had a trading volume of 1,903,419 shares, compared to its average volume of 2,072,147. The business has a 50-day moving average of $140.13 and a 200-day moving average of $136.26. Ross Stores, Inc. has a one year low of $99.00 and a one year high of $151.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The stock has a market cap of $45.41 billion, a PE ratio of 24.26, a PEG ratio of 1.86 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.09%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is 26.44%.

Ross Stores declared that its board has initiated a stock repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.