Ross Stores, Inc. $ROST Shares Purchased by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has increased its stake in Ross Stores, Inc. by 6.3%, now holding 70,121 shares valued at approximately $8.96 million.
• Analysts have provided a consensus rating of "Moderate Buy" for Ross Stores with an average price target of $160.67, as twelve analysts have rated the stock as a buy.
• Ross Stores announced a quarterly dividend of $0.405 per share, reflecting an annualized yield of 1.1% with the ex-dividend date set for September 9.

Cinctive Capital Management LP boosted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,121 shares of the apparel retailer's stock after acquiring an additional 4,139 shares during the quarter. Cinctive Capital Management LP's holdings in Ross Stores were worth $8,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in 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 last quarter. Bayforest Capital Ltd increased its stake in Ross Stores by 372.5% during 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 during the last quarter. Banque Transatlantique SA acquired a new stake in Ross Stores during the first quarter worth $29,000. Tradewinds Capital Management LLC increased its stake in Ross Stores by 36.6% during 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. Finally, Putney Financial Group LLC acquired a new stake in Ross Stores during the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Analysts Set New Price Targets

ROST has been the subject of several recent analyst reports. Cowen reissued a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and lifted their price objective for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Loop Capital dropped their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Finally, UBS Group lifted their price objective on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Trading Down 1.2%

Shares of NASDAQ ROST traded down $1.86 during trading on Friday, reaching $150.95. The stock had a trading volume of 2,438,398 shares, compared to its average volume of 3,281,008. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $158.69. The company has a market cap of $49.37 billion, a P/E ratio of 23.96, a PEG ratio of 2.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The business's 50-day moving average price is $140.36 and its 200-day moving average price is $137.78.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The firm had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the previous year, the firm posted $1.59 EPS. Ross Stores's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

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.