Ross Stores (NASDAQ:ROST) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Ross Stores (NASDAQ:ROST) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group upped their target price on Ross Stores from $160.00 to $175.00 and gave the stock a market perform rating in a research report on Friday, August 23rd. Morgan Stanley upped their price target on Ross Stores from $163.00 to $178.00 and gave the stock an overweight rating in a report on Friday, August 23rd. UBS Group lifted their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the company a neutral rating in a research note on Friday, August 23rd. Guggenheim upped their target price on shares of Ross Stores from $165.00 to $170.00 and gave the company a buy rating in a research note on Friday, May 24th. Finally, Bank of America raised their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a buy rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $169.71.

Ross Stores Stock Performance

Ross Stores stock opened at $150.53 on Friday. Ross Stores has a 12 month low of $108.35 and a 12 month high of $163.60. The stock’s 50-day moving average is $146.10 and its 200-day moving average is $142.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $50.21 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 earnings per share. Equities analysts anticipate that Ross Stores will post 6.21 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Insiders Place Their Bets

In related news, CEO Barbara Rentler sold 48,885 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds have recently made changes to their positions in ROST. Spire Wealth Management grew its stake in shares of Ross Stores by 4.8% in the fourth quarter. Spire Wealth Management now owns 2,464 shares of the apparel retailer’s stock worth $339,000 after purchasing an additional 113 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Ross Stores by 11.2% in the 4th quarter. Private Advisor Group LLC now owns 9,197 shares of the apparel retailer’s stock worth $1,273,000 after acquiring an additional 926 shares during the period. Principal Securities Inc. acquired a new stake in shares of Ross Stores in the 4th quarter worth approximately $1,611,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Ross Stores by 8.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,932 shares of the apparel retailer’s stock valued at $267,000 after acquiring an additional 150 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Ross Stores by 1,010.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,388 shares of the apparel retailer’s stock valued at $330,000 after acquiring an additional 2,173 shares during the period. Institutional investors own 86.86% of the company’s stock.

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.