Armistice Capital LLC Has $9.54 Million Stake in Ross Stores, Inc. $ROST

Key Points

• Armistice Capital LLC reduced its stake in Ross Stores by 28.7%, now holding 74,686 shares valued at approximately $9.54 million.
• Several institutional investors increased their positions in Ross Stores, with Golden State Wealth Management raising its holdings by 50.7% during the first quarter.
• Ross Stores reported an EPS of $1.56 for the latest quarter, slightly exceeding estimates, and announced a quarterly dividend of $0.405, yielding about 1.1% annually.

Armistice Capital LLC trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,686 shares of the apparel retailer's stock after selling 30,004 shares during the period. Armistice Capital LLC's holdings in Ross Stores were worth $9,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares during the period. 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 valued at $31,000 after purchasing an additional 190 shares in the last quarter. Tradewinds Capital Management LLC grew its position 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 purchasing an additional 75 shares in the last quarter. Putney Financial Group LLC bought a new position in Ross Stores in the fourth quarter valued at $44,000. Finally, Cary Street Partners Financial LLC bought a new position in Ross Stores in the fourth quarter valued at $48,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ROST shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $160.00 target price (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. UBS Group raised their target price on shares of Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Finally, Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and raised their target price for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Stock Performance

Shares of ROST opened at $147.16 on Friday. The firm has a 50-day moving average of $138.06 and a 200-day moving average of $137.39. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69. The company has a market cap of $48.13 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm posted $1.59 EPS. The company's quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities 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 will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's dividend payout ratio (DPR) is 25.71%.

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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