United Asset Strategies Inc. Has $1.17 Million Stake in Ross Stores, Inc. $ROST

Key Points

• United Asset Strategies Inc. increased its stake in Ross Stores, Inc. by 67.7%, acquiring an additional 3,701 shares, resulting in a total of 9,168 shares valued at approximately $1.17 million.
• Ross Stores reported a quarterly earnings per share (EPS) of $1.56, exceeding analysts' expectations, while its quarterly revenue was $5.53 billion, marking a 4.6% increase compared to the previous year.
• The company announced a quarterly dividend of $0.405 per share, set to be paid on September 30th, representing an annualized yield of 1.1%.

United Asset Strategies Inc. boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 67.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,168 shares of the apparel retailer's stock after purchasing an additional 3,701 shares during the quarter. United Asset Strategies Inc.'s holdings in Ross Stores were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stoneridge Investment Partners LLC bought a new position in Ross Stores during the first quarter worth $2,192,000. Capital Analysts LLC boosted its position in Ross Stores by 82.1% during the first quarter. Capital Analysts LLC now owns 692 shares of the apparel retailer's stock worth $88,000 after purchasing an additional 312 shares during the period. Credit Agricole S A boosted its position in Ross Stores by 98.4% during the first quarter. Credit Agricole S A now owns 104,200 shares of the apparel retailer's stock worth $13,316,000 after purchasing an additional 51,692 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Ross Stores by 40.7% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 79,755 shares of the apparel retailer's stock worth $10,206,000 after purchasing an additional 23,053 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Ross Stores by 152.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,781 shares of the apparel retailer's stock worth $3,550,000 after purchasing an additional 16,783 shares during the period. 86.86% of the stock is owned by institutional investors.

Ross Stores Price Performance

ROST stock traded up $0.20 during midday trading on Monday, reaching $147.45. The company had a trading volume of 3,371,596 shares, compared to its average volume of 3,148,442. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 2.79 and a beta of 1.11. The stock has a 50 day moving average price of $136.10 and a 200-day moving average price of $137.11. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $158.69. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued 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. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. Equities research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and boosted their target price for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Loop Capital reduced their target price on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, UBS Group boosted their target price on shares of Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.00.

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.