Steward Partners Investment Advisory LLC Cuts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Steward Partners Investment Advisory LLC reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 77.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,918 shares of the apparel retailer’s stock after selling 17,088 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Ross Stores were worth $445,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Ross Stores by 3.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,629 shares of the apparel retailer’s stock worth $5,786,000 after purchasing an additional 1,548 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Ross Stores in the fourth quarter valued at approximately $2,588,000. State of New Jersey Common Pension Fund D grew its position in Ross Stores by 0.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 209,556 shares of the apparel retailer’s stock valued at $23,948,000 after acquiring an additional 1,665 shares in the last quarter. Ardevora Asset Management LLP grew its position in Ross Stores by 8.4% in the fourth quarter. Ardevora Asset Management LLP now owns 660,600 shares of the apparel retailer’s stock valued at $75,493,000 after acquiring an additional 51,000 shares in the last quarter. Finally, Keel Point LLC acquired a new stake in Ross Stores in the fourth quarter valued at approximately $240,000. 87.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Telsey Advisory Group downgraded shares of Ross Stores from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $80.00 in a research report on Friday, May 20th. Morgan Stanley reiterated a “buy” rating and set a $129.00 target price on shares of Ross Stores in a research note on Friday, June 3rd. Wells Fargo & Company reduced their target price on Ross Stores from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, May 20th. Credit Suisse Group reduced their target price on Ross Stores from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Finally, JPMorgan Chase & Co. reduced their target price on Ross Stores from $125.00 to $119.00 in a research note on Monday, May 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $99.76.

Ross Stores Stock Performance

ROST stock opened at $81.40 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.16 and a current ratio of 1.88. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.79 and a beta of 0.99. Ross Stores, Inc. has a 1 year low of $69.24 and a 1 year high of $127.34. The stock’s fifty day moving average is $77.97 and its two-hundred day moving average is $89.48.

Ross Stores (NASDAQ:ROSTGet Rating) last posted its earnings results on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.54 billion. Ross Stores had a net margin of 8.46% and a return on equity of 39.61%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, research analysts predict that Ross Stores, Inc. will post 4.4 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, June 7th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, June 6th. Ross Stores’s dividend payout ratio (DPR) is 27.62%.

Insider Activity

In other news, Director Michael J. Bush sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $81.46, for a total transaction of $81,460.00. Following the transaction, the director now directly owns 34,496 shares of the company’s stock, valued at $2,810,044.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Ross Stores Company Profile

(Get Rating)

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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

See Also

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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