Norinchukin Bank The Grows Holdings in Ross Stores, Inc. $ROST

Key Points

• Norinchukin Bank The increased its stake in Ross Stores, Inc. by 43.6%, owning 26,178 shares valued at $3.34 million at the end of the first quarter.
• Multiple hedge funds have also adjusted their positions in Ross Stores, with Vanguard Group Inc. increasing its ownership by 17.0%, holding over 34 million shares.
• Ross Stores announced a quarterly dividend of $0.405 per share, to be paid on September 30, signaling a 1.1% dividend yield for investors.

Norinchukin Bank The raised its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 43.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,178 shares of the apparel retailer's stock after purchasing an additional 7,944 shares during the period. Norinchukin Bank The's holdings in Ross Stores were worth $3,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC boosted its stake in Ross Stores by 50.7% in the 1st 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 in the last quarter. Bayforest Capital Ltd boosted its stake in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 190 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 75 shares in the last quarter. Putney Financial Group LLC acquired a new stake in Ross Stores in the 4th quarter worth approximately $44,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Ross Stores in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

NASDAQ ROST traded up $0.20 on Monday, hitting $147.45. 3,371,596 shares of the company's stock traded hands, compared to its average volume of 3,148,442. 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, Inc. has a 1-year low of $122.36 and a 1-year high of $158.69. The firm's 50-day moving average price is $136.10 and its two-hundred day moving average price is $137.11. The firm has a market capitalization of $48.23 billion, a PE ratio of 23.40, a P/E/G ratio of 2.79 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $5.54 billion. During the same period in the previous year, the business posted $1.59 EPS. The business's quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

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

Analyst Ratings Changes

ROST has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and lifted their target price for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. UBS Group lifted their price objective on shares of Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on shares of Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.00.

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.