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HB Wealth Management LLC Acquires 6,148 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Ross Stores logo with Retail/Wholesale background

Key Points

  • HB Wealth Management LLC increased its holdings in Ross Stores by 104.8%, now owning 12,014 shares valued at $1.54 million, as reported in their recent SEC filing.
  • Ross Stores received mixed analyst ratings, with Citigroup upgrading it to "buy" with a target price of $146, while Wall Street Zen downgraded it to "hold".
  • The company announced a quarterly dividend of $0.405 per share, yielding 1.16%, with a dividend payout ratio of 25.59%.
  • Five stocks we like better than Ross Stores.

HB Wealth Management LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 104.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,014 shares of the apparel retailer's stock after buying an additional 6,148 shares during the period. HB Wealth Management LLC's holdings in Ross Stores were worth $1,535,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Ross Stores by 25.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after acquiring an additional 3,995,760 shares during the last quarter. Geode Capital Management LLC boosted its position in Ross Stores by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 8,287,162 shares of the apparel retailer's stock worth $1,250,423,000 after purchasing an additional 135,117 shares during the last quarter. FMR LLC grew its stake in Ross Stores by 11.9% in the 4th quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock valued at $1,152,690,000 after purchasing an additional 807,850 shares during the period. Invesco Ltd. increased its position in shares of Ross Stores by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,805,427 shares of the apparel retailer's stock valued at $575,647,000 after purchasing an additional 154,486 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Ross Stores by 12.1% during the 4th quarter. Northern Trust Corp now owns 3,572,823 shares of the apparel retailer's stock worth $540,461,000 after purchasing an additional 386,838 shares during the period. Institutional investors own 86.86% of the company's stock.

Ross Stores Price Performance

NASDAQ ROST traded up $0.02 during trading hours on Friday, hitting $136.56. The company had a trading volume of 896,251 shares, compared to its average volume of 3,093,562. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.65 and a beta of 1.11. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The firm has a 50 day simple moving average of $134.16 and a 200 day simple moving average of $137.61.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. Ross Stores's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. Equities research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.2%. Ross Stores's dividend payout ratio is presently 25.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ROST shares. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a report on Friday, May 23rd. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and increased their target price for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Citigroup upgraded shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a research note on Thursday, April 3rd. Loop Capital dropped their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reduced their price objective on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ross Stores currently has a consensus rating of "Moderate Buy" and an average target price of $159.06.

Get Our Latest Analysis on Ross Stores

Ross Stores Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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