Swiss National Bank Reduces Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• The Swiss National Bank reduced its holdings in Ross Stores, Inc. by 0.7% in the first quarter, now owning 930,500 shares valued at approximately $118.9 million.
• Several institutional investors increased their stakes in Ross, including Mitsubishi UFJ Asset Management Co., which raised its position by 9.5% during the same period.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Ross Stores, with an average price target of $159.06, despite recent price target adjustments from various firms.

Swiss National Bank trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 930,500 shares of the apparel retailer's stock after selling 6,700 shares during the quarter. Swiss National Bank owned 0.28% of Ross Stores worth $118,909,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ROST. Golden State Wealth Management LLC boosted its position in shares of 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 buying an additional 73 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after buying an additional 190 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in shares of 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 buying an additional 75 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of Ross Stores during the fourth quarter valued at $44,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Ross Stores during the fourth quarter valued at $48,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Down 1.2%

Shares of ROST traded down $1.80 during trading hours on Thursday, hitting $148.48. The company had a trading volume of 962,972 shares, compared to its average volume of 3,055,244. The company has a market capitalization of $48.56 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.11. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60. The company's fifty day moving average price is $134.95 and its two-hundred day moving average price is $137.34.

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

Ross Stores Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ROST. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a report on Friday, May 23rd. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Wells Fargo & Company cut their target price on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Evercore ISI dropped their target price on Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.06.

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.