Sequoia Financial Advisors LLC Buys 1,198 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Sequoia Financial Advisors LLC boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,503 shares of the apparel retailer’s stock after purchasing an additional 1,198 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Ross Stores were worth $1,286,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores in the 4th quarter valued at approximately $31,000. ORG Partners LLC lifted its position in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth approximately $51,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Ross Stores during the 4th quarter worth approximately $57,000. 86.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI reduced their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their price objective on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 target price (down previously from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Robert W. Baird dropped their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, BMO Capital Markets decreased their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and an average target price of $161.40.

Ross Stores Stock Up 0.7 %

Shares of NASDAQ:ROST opened at $124.21 on Friday. Ross Stores, Inc. has a 12 month low of $122.77 and a 12 month high of $163.60. The firm has a market cap of $40.98 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.13 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $142.85 and its two-hundred day moving average price is $146.55.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. As a group, research analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is presently 25.63%.

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 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.