Franklin Resources Inc. Has $468.66 Million Stock Holdings in Ross Stores, Inc. $ROST

Key Points

• Franklin Resources cut its Ross Stores stake by 6.3% in Q3, selling 208,123 shares and ending with 3,075,427 shares valued at about $468.66 million, or roughly 0.95% of the company.
• Ross beat quarterly expectations with $2.00 EPS vs. $1.90 expected and revenue of $6.64 billion (up 12.2% YoY), backed by strong profitability (ROE 36.7%, net margin 9.43%).
• The company raised its quarterly dividend to $0.445 (annualized $1.78, yield 0.8%), while analysts remain broadly positive with a consensus target of $208.29 and several firms lifting targets as high as $240.

Franklin Resources Inc. reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,075,427 shares of the apparel retailer's stock after selling 208,123 shares during the period. Franklin Resources Inc. owned approximately 0.95% of Ross Stores worth $468,664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American National Bank & Trust acquired a new stake in shares of Ross Stores in the 3rd quarter valued at $26,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Ross Stores in the 3rd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Ross Stores by 162.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer's stock worth $36,000 after buying an additional 148 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Ross Stores during the 2nd quarter worth $38,000. Finally, True Wealth Design LLC lifted its position in shares of Ross Stores by 152.0% during the 3rd quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer's stock worth $39,000 after buying an additional 155 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Trading Down 0.0%

NASDAQ ROST opened at $212.87 on Thursday. The company has a market cap of $68.85 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $216.80. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $195.24 and its 200 day moving average is $173.56.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.90 by $0.10. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.42 billion. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The business's quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. As a group, sell-side analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.445 dividend. This is an increase from Ross Stores's previous quarterly dividend of $0.41. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th. Ross Stores's payout ratio is currently 24.51%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Ross Stores in a research note on Monday, December 1st. Robert W. Baird set a $200.00 target price on Ross Stores in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft set a $221.00 target price on shares of Ross Stores in a report on Thursday, January 8th. Wells Fargo & Company raised their price target on shares of Ross Stores from $205.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. Finally, Telsey Advisory Group raised shares of Ross Stores from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $220.00 to $240.00 in a report on Wednesday, March 4th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and a consensus target price of $208.29.

Ross Stores Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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