Nuveen LLC Purchases Shares of 955,028 Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Nuveen LLC has made a significant investment in Ross Stores, purchasing 955,028 shares valued at approximately $122.04 million, representing about 0.29% of the company.
• Jefferies Financial Group upgraded Ross Stores' stock rating from "hold" to "buy" with a target price increase from $135.00 to $150.00.
• Ross Stores recently declared a quarterly dividend of $0.405, yielding 1.1%, with a payout ratio of 25.59%.

Nuveen LLC acquired a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 955,028 shares of the apparel retailer's stock, valued at approximately $122,043,000. Nuveen LLC owned 0.29% of Ross Stores at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROST. Golden State Wealth Management LLC lifted its stake in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after buying an additional 73 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 190 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 75 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Ross Stores in the fourth quarter valued at approximately $44,000. Finally, Cary Street Partners Financial LLC purchased a new position in Ross Stores in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROST. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and lifted their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Telsey Advisory Group reiterated a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a research report on Friday, May 23rd. Morgan Stanley lowered their target price on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Loop Capital lowered their price target on shares of 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 lowered their price objective on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.06.

Ross Stores Price Performance

NASDAQ:ROST traded down $2.90 during trading hours on Thursday, reaching $147.38. The company had a trading volume of 3,247,265 shares, compared to its average volume of 2,368,601. The stock has a 50-day moving average of $135.05 and a two-hundred day moving average of $137.34. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The firm has a market capitalization of $48.20 billion, a PE ratio of 23.28, a PEG ratio of 2.88 and a beta of 1.11. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18.

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

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 1.1%. Ross Stores's 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.