Bank of America Corp DE Has $310.95 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

Bank of America Corp DE reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,437,469 shares of the apparel retailer’s stock after selling 87,100 shares during the quarter. Bank of America Corp DE’s holdings in Ross Stores were worth $310,953,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Ross Stores during the first quarter worth approximately $31,000. Okabena Investment Services Inc. acquired a new stake in Ross Stores in the fourth quarter valued at approximately $59,000. Quent Capital LLC acquired a new stake in Ross Stores in the fourth quarter valued at approximately $76,000. Glassman Wealth Services lifted its stake in Ross Stores by 19.0% in the fourth quarter. Glassman Wealth Services now owns 758 shares of the apparel retailer’s stock valued at $87,000 after acquiring an additional 121 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in Ross Stores in the first quarter valued at approximately $87,000. 87.65% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Trading Up 0.5 %

Shares of Ross Stores stock opened at $90.74 on Tuesday. The firm has a market capitalization of $31.49 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.92 and a quick ratio of 1.17. The company’s fifty day moving average price is $85.76 and its two-hundred day moving average price is $87.40. Ross Stores, Inc. has a 52-week low of $69.24 and a 52-week high of $123.36.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.08. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.62 billion. Ross Stores had a net margin of 7.97% and a return on equity of 36.36%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. On average, analysts expect that Ross Stores, Inc. will post 3.99 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Tuesday, September 6th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, September 2nd. Ross Stores’s payout ratio is 29.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on ROST. Credit Suisse Group lifted their target price on shares of Ross Stores from $92.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. Barclays lifted their target price on shares of Ross Stores from $85.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Ross Stores from $98.00 to $112.00 in a research note on Friday. UBS Group boosted their price objective on shares of Ross Stores from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Ross Stores from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 19th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.22.

Ross Stores 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.

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

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