Rafferty Asset Management LLC Increases Position in Ross Stores, Inc. $ROST

Key Points

• Rafferty Asset Management LLC increased its stake in Ross Stores, Inc. by 7.9%, owning a total of 129,149 shares worth approximately $16.5 million following the purchase of 9,444 additional shares.
• Ross Stores reported earnings per share of $1.56 for the last quarter, beating analysts' expectations, and had a revenue of $5.53 billion, reflecting a 4.6% increase year-over-year.
• The company declared a quarterly dividend of $0.405, with a dividend yield of 1.1%, indicating a 25.71% payout ratio.

Rafferty Asset Management LLC boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,149 shares of the apparel retailer's stock after acquiring an additional 9,444 shares during the period. Rafferty Asset Management LLC's holdings in Ross Stores were worth $16,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after buying an additional 190 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after buying an additional 75 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at $44,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ROST shares. JPMorgan Chase & Co. upped their target price on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Evercore ISI lowered their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. UBS Group upped their target price on shares of Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Robert W. Baird upped their target price on shares of Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Stock Performance

NASDAQ:ROST traded down $1.89 during trading hours on Friday, reaching $147.16. 2,633,607 shares of the company's stock were exchanged, compared to its average volume of 3,327,832. The firm has a market capitalization of $48.13 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a 50-day moving average of $138.06 and a 200 day moving average of $137.39. The company has a quick ratio of 0.98, a current ratio of 1.58 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.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping 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 company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter last year, the business earned $1.59 EPS. The business's revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's dividend payout ratio (DPR) is 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.