Ross Stores, Inc. $ROST Shares Purchased by Teca Partners LP

Key Points

• Teca Partners LP increased its stake in Ross Stores by 79.8% during the first quarter, holding approximately 163,831 shares valued at over $20 million.
• The business announced a quarterly dividend of $0.405 per share, with a yield of 1.1%, to be paid on September 30th.
• Analysts maintain a consensus rating of "Moderate Buy" for Ross Stores, with an average target price of $160.00.

Teca Partners LP grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 79.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,831 shares of the apparel retailer's stock after purchasing an additional 72,733 shares during the period. Ross Stores makes up about 15.0% of Teca Partners LP's holdings, making the stock its 2nd biggest position. Teca Partners LP's holdings in Ross Stores were worth $20,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Ross Stores by 50.7% in 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 during the period. Forum Financial Management LP grew its holdings in shares of Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after acquiring an additional 74 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Ross Stores by 6.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock worth $164,000 after acquiring an additional 74 shares during the period. Tradewinds Capital Management LLC grew 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 worth $36,000 after acquiring an additional 75 shares during the period. Finally, Principal Securities Inc. grew its holdings in shares of Ross Stores by 1.0% in the 1st quarter. Principal Securities Inc. now owns 7,744 shares of the apparel retailer's stock worth $990,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 86.86% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the topic of a number of research reports. Barclays upped their price target on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. upped their price target on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. UBS Group upped their target price on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Wells Fargo & Company upped their target price on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen lowered Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Twelve research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Trading Down 1.3%

Shares of Ross Stores stock 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. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $158.69. The firm has a market capitalization of $48.13 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.86 and a beta of 1.11. The company has a fifty day moving average of $138.06 and a 200-day moving average of $137.40. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 EPS. Sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued 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 is Tuesday, September 9th. Ross Stores's dividend payout ratio is presently 25.71%.

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.