Callan Family Office LLC Raises Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Callan Family Office LLC increased its holdings in Ross Stores by 143.8%, now owning 35,898 shares valued at approximately $4.59 million.
• Analysts have set a new consensus rating of "Moderate Buy" for Ross Stores, with an average target price of $159.06, despite some firms lowering their price targets.
• Ross Stores announced a quarterly dividend of $0.405 per share, yielding 1.1%, with a dividend payout ratio of 25.59%.

Callan Family Office LLC raised its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 143.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,898 shares of the apparel retailer's stock after acquiring an additional 21,174 shares during the period. Callan Family Office LLC's holdings in Ross Stores were worth $4,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC lifted its position in Ross Stores by 29.6% in the 4th quarter. Advisory Services Network LLC now owns 4,820 shares of the apparel retailer's stock worth $729,000 after buying an additional 1,100 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Ross Stores by 5.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 25,223 shares of the apparel retailer's stock worth $3,815,000 after buying an additional 1,195 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in Ross Stores in the 4th quarter worth approximately $538,000. Summit Investment Advisors Inc. lifted its position in Ross Stores by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,788 shares of the apparel retailer's stock worth $2,086,000 after buying an additional 372 shares during the last quarter. Finally, Mariner LLC lifted its position in Ross Stores by 3.5% in the 4th quarter. Mariner LLC now owns 54,229 shares of the apparel retailer's stock worth $8,203,000 after buying an additional 1,857 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ROST shares. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and boosted their target price for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Wall Street Zen downgraded Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lowered their price objective on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Loop Capital lowered their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, Barclays lowered their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has an average rating of "Moderate Buy" and an average target price of $159.06.

Ross Stores Trading Down 1.9%

Shares of ROST traded down $2.90 during mid-day trading on Thursday, hitting $147.38. 3,247,265 shares of the company's stock traded hands, compared to its average volume of 3,070,308. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The firm has a market capitalization of $48.20 billion, a P/E ratio of 23.28, a PEG ratio of 2.84 and a beta of 1.11. The business's 50-day moving average price is $134.95 and its 200-day moving average price is $137.34.

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

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a $0.405 dividend. This represents a $1.62 annualized dividend 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%.

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.