DoubleLine ETF Adviser LP Makes New $1 Million Investment in Ross Stores, Inc. $ROST

Key Points

• DoubleLine ETF Adviser LP has acquired a new stake in Ross Stores, purchasing 7,830 shares valued at approximately $1,001,000.
• Ross Stores reported $1.56 EPS for the latest quarter, beating analysts' expectations, with revenues of $5.53 billion.
• The company declared a quarterly dividend of $0.405 per share, representing an annualized yield of 1.1% and a payout ratio of 25.71%.

DoubleLine ETF Adviser LP purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,830 shares of the apparel retailer's stock, valued at approximately $1,001,000.

Several other large investors have also modified their holdings of ROST. Golden State Wealth Management LLC lifted its position 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 purchasing an additional 73 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Ross Stores during the first quarter worth about $29,000. Bayforest Capital Ltd lifted its position in shares of 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 purchasing an additional 190 shares during the last quarter. Tradewinds Capital Management LLC lifted its position in shares of 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 purchasing an additional 75 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in shares of Ross Stores during the fourth quarter worth about $44,000. Institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Barclays lifted their target price on Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Loop Capital decreased their target price 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. Finally, Morgan Stanley lifted their target price on Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Price Performance

NASDAQ:ROST traded down $1.86 during midday trading on Friday, hitting $150.95. 2,438,398 shares of the stock were exchanged, compared to its average volume of 3,281,008. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 2.90 and a beta of 1.15. The business has a 50-day moving average price of $140.36 and a two-hundred day moving average price of $137.78. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

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