WPG Advisers LLC Invests $118,000 in Ross Stores, Inc. $ROST

WPG Advisers LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 921 shares of the apparel retailer’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC increased its position in shares of Ross Stores by 3.8% during the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer’s stock worth $247,000 after purchasing an additional 70 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 73 shares in the last quarter. Forum Financial Management LP increased its position in shares of Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after purchasing an additional 74 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Ross Stores by 6.1% during the first quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer’s stock worth $164,000 after purchasing an additional 74 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $147.16 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $138.06 and its two-hundred day moving average is $137.40. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $158.69. The stock has a market capitalization of $48.13 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.86 and a beta of 1.11.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.1%. Ross Stores’s payout ratio is presently 25.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ROST. Telsey Advisory Group reiterated a “market perform” rating and set a $160.00 target price (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Robert W. Baird boosted their price target on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 22nd. Morgan Stanley boosted their price target on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, August 22nd. Cowen restated a “buy” rating on shares of Ross Stores in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.

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.