KLP Kapitalforvaltning AS Increases Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

KLP Kapitalforvaltning AS lifted its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,044 shares of the apparel retailer's stock after acquiring an additional 4,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Ross Stores were worth $15,085,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ROST. Golden State Wealth Management LLC grew its position 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 valued at $28,000 after buying an additional 73 shares during the period. Forum Financial Management LP raised its position in Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after acquiring an additional 74 shares during the period. First Horizon Advisors Inc. boosted its stake in Ross Stores by 6.1% in the first quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock valued at $164,000 after acquiring an additional 74 shares during the last quarter. Tradewinds Capital Management LLC grew its position in shares of Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Ross Stores by 1.0% during the 1st quarter. Principal Securities Inc. now owns 7,744 shares of the apparel retailer's stock worth $990,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the subject of several research analyst reports. Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Barclays decreased their price target on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Evercore ISI decreased their price target 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. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and raised their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research report 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.94.

Ross Stores Price Performance

Shares of ROST stock traded up $1.89 during trading hours on Friday, reaching $138.33. The stock had a trading volume of 1,644,056 shares, compared to its average volume of 2,566,151. The stock's fifty day simple moving average is $135.32 and its 200 day simple moving average is $137.88. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The firm has a market capitalization of $45.24 billion, a PE ratio of 21.85, a PEG ratio of 2.64 and a beta of 1.11.

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. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the business earned $1.46 earnings per share. Ross Stores's revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Tuesday, June 10th. Ross Stores's dividend payout ratio is currently 25.59%.

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.