Veriti Management LLC lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,125 shares of the apparel retailer's stock after selling 1,000 shares during the period. Veriti Management LLC's holdings in Ross Stores were worth $430,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROST. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Ross Stores during the 1st quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Ross Stores during the 1st quarter worth $31,000. CVA Family Office LLC lifted its position in shares of Ross Stores by 1,466.7% during the 2nd quarter. CVA Family Office LLC now owns 470 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 440 shares during the last quarter. Allworth Financial LP lifted its position in shares of Ross Stores by 38.1% during the 2nd quarter. Allworth Financial LP now owns 616 shares of the apparel retailer's stock worth $43,000 after purchasing an additional 170 shares during the last quarter. Finally, Okabena Investment Services Inc. purchased a new stake in shares of Ross Stores during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 87.65% of the company's stock.
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Analysts Set New Price Targets
A number of research analysts have commented on ROST shares. UBS Group lifted their price objective on shares of Ross Stores from $85.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, August 19th. Barclays lifted their price objective on shares of Ross Stores from $85.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday, August 22nd. Loop Capital lifted their price objective on shares of Ross Stores from $80.00 to $85.00 in a research note on Friday, August 19th. Evercore ISI set a $70.00 target price on shares of Ross Stores in a report on Tuesday, July 19th. Finally, William Blair reaffirmed an "outperform" rating on shares of Ross Stores in a report on Friday, August 19th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.22.
Ross Stores Stock Up 3.1 %
ROST stock opened at $87.01 on Thursday. The company has a market cap of $30.20 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.08 and a beta of 1.00. Ross Stores, Inc. has a 52 week low of $69.24 and a 52 week high of $123.36. The company's 50-day moving average price is $87.13 and its 200 day moving average price is $87.33. The company has a current ratio of 1.92, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59.
Ross Stores (NASDAQ:ROST – Get Rating) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.08. Ross Stores had a net margin of 7.97% and a return on equity of 36.36%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts expect that Ross Stores, Inc. will post 3.99 earnings per share for the current fiscal year.
Ross Stores Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Tuesday, September 6th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, September 2nd. Ross Stores's dividend payout ratio (DPR) is presently 29.45%.
Ross Stores Profile
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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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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