World Asset Management Inc increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,212 shares of the apparel retailer’s stock after purchasing an additional 249 shares during the period. World Asset Management Inc’s holdings in Ross Stores were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new stake in Ross Stores during the 2nd quarter worth approximately $25,000. Redhawk Wealth Advisors Inc. bought a new position in Ross Stores during the 2nd quarter worth $31,000. Litman Gregory Asset Management LLC bought a new position in Ross Stores during the 2nd quarter worth $32,000. First Financial Corp IN bought a new position in Ross Stores during the 3rd quarter worth $37,000. Finally, Compagnie Lombard Odier SCmA increased its stake in Ross Stores by 27.3% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 629 shares of the apparel retailer’s stock worth $62,000 after acquiring an additional 135 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. DA Davidson raised their price objective on Ross Stores to $105.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Telsey Advisory Group raised their price objective on Ross Stores from $103.00 to $112.00 and gave the stock a “market perform” rating in a research note on Friday, October 11th. Credit Suisse Group raised their price objective on Ross Stores from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Citigroup raised their price objective on Ross Stores from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Loop Capital upgraded Ross Stores to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and a consensus target price of $109.78.
Shares of ROST traded down $1.78 during midday trading on Wednesday, hitting $110.12. The company’s stock had a trading volume of 58,159 shares, compared to its average volume of 1,736,477. Ross Stores, Inc. has a one year low of $75.91 and a one year high of $114.82. The company’s fifty day simple moving average is $109.23 and its two-hundred day simple moving average is $102.73. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. Ross Stores’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. On average, research analysts predict that Ross Stores, Inc. will post 4.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a yield of 0.93%. Ross Stores’s dividend payout ratio is currently 23.94%.
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 brands. Its stores primarily offers 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 regular prices to customers from households with moderate income.
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