Slow Capital Inc. Increases Position in Ross Stores, Inc. (NASDAQ:ROST)

Slow Capital Inc. increased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 83.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,196 shares of the apparel retailer's stock after buying an additional 27,438 shares during the period. Ross Stores accounts for about 1.0% of Slow Capital Inc.'s investment portfolio, making the stock its 21st biggest position. Slow Capital Inc.'s holdings in Ross Stores were worth $7,692,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after purchasing an additional 73 shares during the period. Tradewinds Capital Management LLC raised its position in Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 75 shares during the period. Putney Financial Group LLC purchased a new stake in Ross Stores during the fourth quarter valued at approximately $44,000. Cary Street Partners Financial LLC purchased a new stake in Ross Stores during the fourth quarter valued at approximately $48,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Ross Stores during the fourth quarter valued at approximately $53,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROST has been the topic of several recent analyst reports. Wall Street Zen downgraded 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 increased their target price for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research report on Friday, May 23rd. Loop Capital dropped their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley dropped their target price on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ross Stores currently has an average rating of "Moderate Buy" and a consensus price target of $158.94.

Ross Stores Stock Performance

ROST stock traded down $3.58 during midday trading on Tuesday, reaching $127.59. The stock had a trading volume of 2,082,382 shares, compared to its average volume of 2,814,584. The stock has a market cap of $41.73 billion, a PE ratio of 20.16, a P/E/G ratio of 2.51 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 fifty day simple moving average of $137.83 and a two-hundred day simple moving average of $139.01. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. Ross Stores's payout ratio is currently 25.59%.

About Ross Stores

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.