Charles Schwab Investment Management Inc. Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Charles Schwab Investment Management Inc. increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,949,821 shares of the apparel retailer’s stock after purchasing an additional 50,550 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of Ross Stores worth $294,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC raised its position in 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 buying an additional 191 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Ross Stores during the fourth quarter valued at approximately $51,000. Ashton Thomas Securities LLC purchased a new position in shares of Ross Stores during the third quarter valued at approximately $53,000. Oakworth Capital Inc. bought a new position in Ross Stores during the fourth quarter valued at approximately $57,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Ross Stores in the third quarter worth approximately $59,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Up 2.0 %

ROST opened at $138.64 on Thursday. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. The firm’s fifty day moving average is $146.03 and its 200 day moving average is $147.64.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is 23.15%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Telsey Advisory Group reduced their price objective on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wells Fargo & Company cut their price target on Ross Stores from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.12.

Ross Stores Company 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.