AXS Investments LLC Purchases 518 Shares of Ross Stores, Inc. (NASDAQ:ROST)

AXS Investments LLC grew its position in Ross Stores, Inc. (NASDAQ:ROST) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,418 shares of the apparel retailer’s stock after acquiring an additional 518 shares during the quarter. AXS Investments LLC’s holdings in Ross Stores were worth $1,204,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after buying an additional 73 shares during the period. Bayforest Capital Ltd lifted its position in shares of Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after buying an additional 190 shares during the period. Tradewinds Capital Management LLC lifted its position in shares of Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after buying an additional 75 shares during the period. Putney Financial Group LLC bought a new position in shares of Ross Stores during the 4th quarter worth approximately $44,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Ross Stores during the 4th quarter worth approximately $48,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 3.4%

NASDAQ ROST opened at $146.55 on Thursday. The stock has a fifty day moving average of $134.40 and a 200-day moving average of $137.41. The stock has a market capitalization of $47.93 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating 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 company had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period last year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. Ross Stores’s payout ratio is 25.59%.

Wall Street Analyst Weigh In

ROST has been the subject of several analyst reports. Barclays cut their target price on Ross Stores from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Morgan Stanley cut their target price on Ross Stores from $128.00 to $126.00 and set an “equal weight” rating for the company in a research report on Friday, May 23rd. Loop Capital cut their price objective on Ross Stores from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $154.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $159.06.

Ross Stores Profile

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.