Cyndeo Wealth Partners LLC Decreases Stake in Ross Stores, Inc. (NASDAQ:ROST)

Cyndeo Wealth Partners LLC lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,327 shares of the apparel retailer’s stock after selling 101 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ross Stores were worth $201,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ROST. Fifth Third Bancorp lifted its stake in shares of Ross Stores by 11.2% in the 4th quarter. Fifth Third Bancorp now owns 19,644 shares of the apparel retailer’s stock valued at $2,972,000 after purchasing an additional 1,979 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Ross Stores by 5.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 10,086 shares of the apparel retailer’s stock worth $1,526,000 after buying an additional 556 shares during the period. CX Institutional boosted its stake in Ross Stores by 12.9% during the fourth quarter. CX Institutional now owns 2,578 shares of the apparel retailer’s stock worth $390,000 after buying an additional 295 shares during the period. Janney Montgomery Scott LLC increased its position in Ross Stores by 10.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 44,822 shares of the apparel retailer’s stock valued at $6,780,000 after acquiring an additional 4,334 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Ross Stores by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 105,325 shares of the apparel retailer’s stock valued at $15,933,000 after acquiring an additional 555 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST opened at $149.28 on Monday. The firm has a market capitalization of $49.25 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.10. The business’s 50-day moving average is $151.12 and its two-hundred day moving average is $147.93. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, December 10th. Ross Stores’s dividend payout ratio is presently 23.15%.

Analyst Ratings Changes

ROST has been the topic of several analyst reports. Evercore ISI upped their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (down previously from $164.00) on shares of Ross Stores in a research note on Tuesday, January 21st. TD Cowen decreased their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and cut their price objective for the company from $179.00 to $152.00 in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $165.00 target price on shares of Ross Stores in a research report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.06.

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.