PNC Financial Services Group Inc. Has $40 Million Stake in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• PNC Financial Services Group Inc. has reduced its stake in Ross Stores by 3.0% in the first quarter, retaining about 313,039 shares valued at approximately $40 million.
• Analysts have mixed views on Ross Stores, with price targets adjusted; Evercore ISI lowered theirs from $170 to $160, while Jefferies upgraded it from $135 to $150.
• Ross Stores recently reported quarterly earnings of $1.47 per share, exceeding expectations, and announced a dividend of $0.405 per share, reflecting a yield of 1.2%.

PNC Financial Services Group Inc. trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 313,039 shares of the apparel retailer's stock after selling 9,770 shares during the period. PNC Financial Services Group Inc. owned about 0.10% of Ross Stores worth $40,003,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ROST. Golden State Wealth Management LLC grew its position in Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after acquiring an additional 73 shares during the period. Bayforest Capital Ltd grew its position in 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 acquiring an additional 190 shares during the period. Tradewinds Capital Management LLC grew its position in 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 acquiring an additional 75 shares during the period. Putney Financial Group LLC bought a new stake in Ross Stores in the fourth quarter valued at $44,000. Finally, Cary Street Partners Financial LLC bought a new stake in Ross Stores in the fourth quarter valued at $48,000. 86.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI lowered their price target on Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $150.00 in a report on Wednesday, July 2nd. Telsey Advisory Group restated a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a report on Friday, May 23rd. Finally, Barclays decreased their target price on Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.06.

Ross Stores Price Performance

Ross Stores stock opened at $137.01 on Monday. The business's 50-day simple moving average is $134.16 and its 200 day simple moving average is $137.36. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 2.62 and a beta of 1.11. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. 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. The business had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, research analysts anticipate 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. Investors of record on Tuesday, June 10th were issued a $0.405 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.2%. Ross Stores's dividend payout ratio (DPR) is currently 25.59%.

Ross Stores Company 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.

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