Federated Hermes Inc. reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 75.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,375 shares of the apparel retailer's stock after selling 178,887 shares during the period. Federated Hermes Inc.'s holdings in Ross Stores were worth $7,332,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new position in shares of Ross Stores during the fourth quarter worth $2,120,000. Resona Asset Management Co. Ltd. bought a new stake in Ross Stores during the 4th quarter worth $14,914,000. KCM Investment Advisors LLC increased its holdings in Ross Stores by 0.6% in the 4th quarter. KCM Investment Advisors LLC now owns 35,199 shares of the apparel retailer's stock worth $5,325,000 after purchasing an additional 201 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ross Stores by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,410,724 shares of the apparel retailer's stock worth $213,400,000 after purchasing an additional 32,035 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in Ross Stores by 43.0% in the fourth quarter. Wedbush Securities Inc. now owns 6,747 shares of the apparel retailer's stock valued at $1,021,000 after purchasing an additional 2,030 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Trading Up 0.3%
Shares of NASDAQ:ROST traded up $0.47 during midday trading on Friday, reaching $137.01. The company's stock had a trading volume of 2,220,593 shares, compared to its average volume of 2,438,217. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. The firm has a 50 day moving average price of $134.16 and a two-hundred day moving average price of $137.45. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60.
Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.
Ross Stores Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores's dividend payout ratio is 25.59%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company reduced their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and raised their price target for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 price objective on shares of Ross Stores in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $159.06.
Get Our Latest Research Report on ROST
About Ross Stores
(
Free Report)
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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