Benjamin Edwards Inc. decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,140 shares of the apparel retailer's stock after selling 13,075 shares during the quarter. Benjamin Edwards Inc.'s holdings in Ross Stores were worth $3,435,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Woodline Partners LP boosted its holdings in Ross Stores by 39.9% in the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer's stock valued at $3,562,000 after purchasing an additional 7,951 shares during the period. Geneos Wealth Management Inc. raised its holdings in Ross Stores by 23.5% in the first quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer's stock valued at $79,000 after acquiring an additional 117 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Ross Stores by 35.8% in the second quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer's stock worth $1,350,000 after acquiring an additional 2,792 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Ross Stores by 1.0% in the second quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer's stock worth $19,200,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in Ross Stores by 2.2% in the second quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer's stock worth $1,605,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on ROST shares. Wells Fargo & Company increased their price objective on shares of Ross Stores from $245.00 to $248.00 and gave the company an "equal weight" rating in a research report on Friday, August 21st. Zacks Research cut shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Ross Stores from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. increased their target price on Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Finally, Evercore set a $290.00 price target on Ross Stores in a research note on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.76.
Check Out Our Latest Stock Analysis on ROST
Ross Stores Stock Performance
Shares of ROST opened at $228.54 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The firm has a market cap of $73.31 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The company's 50 day simple moving average is $233.78 and its 200-day simple moving average is $223.91. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00.
Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. Ross Stores's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.
Ross Stores Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores's dividend payout ratio (DPR) is currently 21.55%.
Ross Stores Company Profile
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Free Report)
Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.
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