Allstate Corp Increases Stock Position in Ross Stores, Inc. $ROST

Key Points

• Allstate Corp has increased its stake in Ross Stores, Inc. by 48.2%, now owning 14,497 shares valued at approximately $1.85 million.
• Ross Stores reported $1.56 earnings per share for the latest quarter, slightly exceeding analysts' expectations, while its revenue increased by 4.6% year-over-year.
• The company declared a quarterly dividend of $0.405 per share, reflecting an annualized yield of 1.1%, set to be paid on September 30th.

Allstate Corp raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 48.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,497 shares of the apparel retailer's stock after purchasing an additional 4,718 shares during the quarter. Allstate Corp's holdings in Ross Stores were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after buying an additional 73 shares in the last quarter. Bayforest Capital Ltd grew its position in Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. Putney Financial Group LLC purchased a new stake in Ross Stores during the fourth quarter valued at about $44,000. Finally, Cary Street Partners Financial LLC purchased a new stake in Ross Stores during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley upped their target price on Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday. Telsey Advisory Group reiterated a "market perform" rating and set a $160.00 price target (up from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Wall Street Zen downgraded shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Loop Capital lowered their price objective on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.00.

Ross Stores Price Performance

ROST opened at $147.25 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. The stock's 50 day simple moving average is $136.10 and its 200 day simple moving average is $137.24. The firm has a market cap of $48.16 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.79 and a beta of 1.11. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a return on equity of 37.85% and a net margin of 9.60%.The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's dividend payout ratio (DPR) is 25.59%.

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.

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