3,792 Shares in Ross Stores, Inc. $ROST Purchased by Quarry LP

Key Points

• Quarry LP has acquired a new stake in Ross Stores, purchasing 3,792 shares valued at approximately $485,000 during the first quarter, reflecting increased interest from institutional investors.
• Several analysts have recently upgraded their ratings for Ross Stores, with JPMorgan raising the price target from $156 to $160 and Robert W. Baird increasing it to $170.
• Ross Stores reported quarterly earnings of $1.56 per share, beating estimates, and announced a quarterly dividend of $0.405 per share, set to be paid on September 30th.

Quarry LP purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,792 shares of the apparel retailer's stock, valued at approximately $485,000.

Other hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. increased its position in Ross Stores by 274.3% during the fourth quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer's stock worth $3,096,000 after buying an additional 14,998 shares in the last quarter. Deutsche Bank AG increased its position in Ross Stores by 42.0% during the fourth quarter. Deutsche Bank AG now owns 1,276,799 shares of the apparel retailer's stock worth $193,141,000 after buying an additional 377,554 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Ross Stores during the first quarter worth $328,000. Aurdan Capital Management LLC purchased a new position in Ross Stores during the fourth quarter worth $8,516,000. Finally, Aurora Private Wealth Inc. purchased a new position in shares of Ross Stores during the 1st quarter worth $1,476,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and increased their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Barclays increased their price target on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Telsey Advisory Group reissued a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Finally, Robert W. Baird upped their price objective on Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $160.67.

Ross Stores Trading Down 1.2%

Ross Stores stock traded down $1.86 during midday trading on Friday, reaching $150.95. The stock had a trading volume of 2,436,732 shares, compared to its average volume of 3,117,768. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The stock has a market capitalization of $49.37 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The stock's 50-day simple moving average is $139.90 and its 200 day simple moving average is $137.71.

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

Ross Stores Announces Dividend

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

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.