Entropy Technologies LP Increases Position in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Entropy Technologies LP increased its stake in Ross Stores by 28.0% during Q1, owning 41,466 shares valued at $5,299,000 according to its latest SEC filing.
• Multiple hedge funds, including Golden State Wealth Management and Bayforest Capital, significantly raised their positions in Ross Stores, reflecting strong institutional interest, with 86.86% of the stock owned by institutional investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ross Stores, with a price target averaging around $159.06.

Entropy Technologies LP raised its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,466 shares of the apparel retailer's stock after buying an additional 9,064 shares during the period. Entropy Technologies LP's holdings in Ross Stores were worth $5,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ROST. Advisory Services Network LLC lifted its stake in Ross Stores by 29.6% in the fourth quarter. Advisory Services Network LLC now owns 4,820 shares of the apparel retailer's stock worth $729,000 after purchasing an additional 1,100 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Ross Stores by 5.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 25,223 shares of the apparel retailer's stock valued at $3,815,000 after acquiring an additional 1,195 shares during the last quarter. Qtron Investments LLC boosted its holdings in Ross Stores by 9.7% during the 4th quarter. Qtron Investments LLC now owns 7,221 shares of the apparel retailer's stock valued at $1,092,000 after acquiring an additional 637 shares during the period. Townsquare Capital LLC boosted its holdings in Ross Stores by 6.4% during the 4th quarter. Townsquare Capital LLC now owns 59,243 shares of the apparel retailer's stock valued at $8,962,000 after acquiring an additional 3,561 shares during the period. Finally, Optimize Financial Inc bought a new position in Ross Stores during the 4th quarter worth approximately $510,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Shares of ROST traded up $2.28 on Wednesday, reaching $150.28. The company's stock had a trading volume of 2,557,814 shares, compared to its average volume of 3,067,597. The stock's 50 day simple moving average is $134.79 and its two-hundred day simple moving average is $137.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. The stock has a market capitalization of $49.15 billion, a P/E ratio of 23.74, a PEG ratio of 2.81 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.

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

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores's payout ratio is currently 25.59%.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Barclays cut their price target on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and raised their target price for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and an average target price of $159.06.

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.