Ross Stores, Inc. $ROST Stock Holdings Decreased by Marshfield Associates

Key Points

• Marshfield Associates decreased its stake in Ross Stores, Inc. by 0.2%, holding 3,906,183 shares valued at approximately $499 million, making it the fund's second largest position.
• Ross Stores reported earnings of $1.56 per share for the latest quarter, surpassing the analyst expectation of $1.54, but falling short of revenue estimates with $5.53 billion compared to the predicted $5.54 billion.
• The company announced a quarterly dividend of $0.405, with a payout ratio of 25.71% and a yield of 1.1%, to be distributed on September 30th to shareholders of record on September 9th.

Marshfield Associates lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,906,183 shares of the apparel retailer's stock after selling 8,430 shares during the period. Ross Stores accounts for approximately 10.8% of Marshfield Associates' portfolio, making the stock its 2nd largest holding. Marshfield Associates owned approximately 1.19% of Ross Stores worth $499,171,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. ICW Investment Advisors LLC increased its stake in Ross Stores by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock valued at $2,359,000 after acquiring an additional 67 shares during the last quarter. Quarry LP bought a new position in Ross Stores in the first quarter valued at $485,000. Vident Advisory LLC increased its stake in Ross Stores by 47.4% in the first quarter. Vident Advisory LLC now owns 9,528 shares of the apparel retailer's stock valued at $1,218,000 after acquiring an additional 3,062 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Ross Stores by 3.1% in the first quarter. The Manufacturers Life Insurance Company now owns 278,799 shares of the apparel retailer's stock valued at $35,628,000 after acquiring an additional 8,311 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in Ross Stores in the first quarter valued at $118,000. Institutional investors own 86.86% of the company's stock.

Ross Stores Stock Down 0.3%

NASDAQ ROST traded down $0.52 during mid-day trading on Wednesday, reaching $150.73. The stock had a trading volume of 2,647,731 shares, compared to its average volume of 3,214,177. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The stock has a market cap of $49.30 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.83 and a beta of 1.15. The company has a fifty day moving average price of $138.91 and a 200 day moving average price of $137.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98.

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

Ross Stores Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI reduced their price objective on Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Loop Capital lowered their price objective on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $160.67.

About Ross Stores

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.