Charles Schwab Investment Management Inc. Has $251.91 Million Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ross Stores by 1.1%, acquiring 21,473 shares and now owns 0.60% of the company, worth approximately $251.9 million.
• Multiple institutional investors have also significantly increased their holdings in Ross Stores, with Vanguard Group's stake rising by 17.0% and Royal Bank of Canada increasing theirs by 69.6%.
• Ross Stores reported earnings of $1.47 per share for the recent quarter, surpassing expectations, with revenues totaling $4.98 billion, a 2.6% increase from the previous year.

Charles Schwab Investment Management Inc. increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,971,294 shares of the apparel retailer's stock after acquiring an additional 21,473 shares during the period. Charles Schwab Investment Management Inc. owned about 0.60% of Ross Stores worth $251,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in Ross Stores by 50.7% in the first 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 boosted 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 buying an additional 190 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of Ross Stores in the fourth quarter worth about $44,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Ross Stores in the fourth quarter worth about $48,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Trading Up 1.0%

Shares of ROST traded up $1.51 on Tuesday, reaching $148.00. 2,329,415 shares of the company's stock were exchanged, compared to its average volume of 3,070,610. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $48.41 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. The business has a 50 day moving average price of $134.71 and a two-hundred day moving average price of $137.17. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60.

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

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a research note on Friday, May 23rd. Loop Capital dropped their target price 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. Wall Street Zen downgraded shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley dropped their target price 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, Evercore ISI dropped their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.06.

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.