Boston Partners Decreases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Boston Partners has reduced its stake in Ross Stores by 2.2%, holding 1,588,565 shares valued at approximately $203,044,000 as of its latest SEC filing.
• Ross Stores reported $1.47 earnings per share for the last quarter, surpassing analysts' expectations of $1.44, with a revenue of $4.98 billion.
• The company declared a quarterly dividend of $0.405 per share, translating to an annualized dividend yield of 1.1%.

Boston Partners reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,588,565 shares of the apparel retailer's stock after selling 35,730 shares during the period. Boston Partners owned 0.48% of Ross Stores worth $203,044,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ROST. Rockefeller Capital Management L.P. raised its position in shares of Ross Stores by 5.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 25,223 shares of the apparel retailer's stock worth $3,815,000 after purchasing an additional 1,195 shares during the last quarter. Mariner LLC raised its holdings in Ross Stores by 3.5% in the 4th quarter. Mariner LLC now owns 54,229 shares of the apparel retailer's stock valued at $8,203,000 after acquiring an additional 1,857 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Ross Stores by 58.1% in the 4th quarter. Belpointe Asset Management LLC now owns 5,287 shares of the apparel retailer's stock valued at $796,000 after acquiring an additional 1,943 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Ross Stores by 0.5% in the 4th quarter. Guggenheim Capital LLC now owns 102,938 shares of the apparel retailer's stock valued at $15,571,000 after acquiring an additional 492 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Ross Stores by 175.7% in the 4th quarter. Bridgewater Associates LP now owns 92,046 shares of the apparel retailer's stock valued at $13,924,000 after acquiring an additional 58,655 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 1.5%

Shares of Ross Stores stock opened at $150.28 on Thursday. The company has a fifty day moving average price of $134.95 and a 200 day moving average price of $137.34. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The stock has a market cap of $49.15 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.84 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Equities research analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were given 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 was Tuesday, June 10th. Ross Stores's dividend payout ratio is presently 25.59%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Telsey Advisory Group reiterated a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price target on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a report on Monday, July 28th. 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 research note on Friday, May 23rd. Morgan Stanley lowered their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and an average target price of $159.06.

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.

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