Cerity Partners LLC Acquires New Position in Ross Stores, Inc. (NASDAQ:ROST)

Cerity Partners LLC acquired a new stake in Ross Stores, Inc. (NASDAQ:ROSTGet Rating) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,251 shares of the apparel retailer’s stock, valued at approximately $369,000.

Other hedge funds have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new position in Ross Stores during the 1st quarter valued at about $28,000. CVA Family Office LLC grew its holdings in shares of Ross Stores by 1,466.7% during the second quarter. CVA Family Office LLC now owns 470 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 440 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in shares of Ross Stores during the second quarter worth about $36,000. Allworth Financial LP grew its holdings in shares of Ross Stores by 38.1% during the second quarter. Allworth Financial LP now owns 616 shares of the apparel retailer’s stock worth $43,000 after purchasing an additional 170 shares in the last quarter. Finally, Fairfield Bush & CO. purchased a new position in shares of Ross Stores during the first quarter worth about $87,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST stock opened at $107.59 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 1.95. Ross Stores, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $116.84. The stock has a 50 day moving average price of $89.91 and a two-hundred day moving average price of $85.45. The company has a market capitalization of $37.34 billion, a P/E ratio of 26.11, a PEG ratio of 2.39 and a beta of 0.97.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.37 billion. Ross Stores had a return on equity of 34.95% and a net margin of 7.74%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts expect that Ross Stores, Inc. will post 4.29 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 6th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.15%. Ross Stores’s dividend payout ratio is presently 30.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROST shares. Telsey Advisory Group boosted their price objective on Ross Stores from $80.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday. UBS Group boosted their price objective on Ross Stores from $92.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $112.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday. Credit Suisse Group boosted their target price on Ross Stores from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on Ross Stores from $105.00 to $125.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.72.

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.

Further Reading

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

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