New Mexico Educational Retirement Board reduced its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 4.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,590 shares of the apparel retailer's stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board's holdings in Ross Stores were worth $1,376,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group bought a new stake in Ross Stores in the 1st quarter valued at about $28,000. Riverview Trust Co bought a new stake in Ross Stores in the 1st quarter valued at about $31,000. CVA Family Office LLC raised its stake in Ross Stores by 1,466.7% in the 2nd quarter. CVA Family Office LLC now owns 470 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 440 shares during the period. Okabena Investment Services Inc. bought a new stake in shares of Ross Stores during the fourth quarter valued at about $59,000. Finally, Allworth Financial LP increased its position in shares of Ross Stores by 38.1% during the second quarter. Allworth Financial LP now owns 616 shares of the apparel retailer's stock valued at $43,000 after buying an additional 170 shares during the period. 87.65% of the stock is currently owned by institutional investors.
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Shares of ROST opened at $84.27 on Monday. The firm has a market cap of $29.25 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.11 and a beta of 0.95. The stock has a 50 day simple moving average of $87.16 and a two-hundred day simple moving average of $87.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.92 and a quick ratio of 1.17. Ross Stores, Inc. has a 1 year low of $69.24 and a 1 year high of $123.36.
Ross Stores (NASDAQ:ROST – Get Rating) last issued its earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. Ross Stores had a return on equity of 36.36% and a net margin of 7.97%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Ross Stores's revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts forecast that Ross Stores, Inc. will post 3.99 earnings per share for the current fiscal year.Ross Stores Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 6th were given a $0.31 dividend. The ex-dividend date was Friday, September 2nd. This represents a $1.24 annualized dividend and a yield of 1.47%. Ross Stores's payout ratio is currently 29.45%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on ROST shares. JPMorgan Chase & Co. upped their price target on Ross Stores from $98.00 to $112.00 in a research report on Friday, September 16th. The Goldman Sachs Group started coverage on Ross Stores in a research report on Tuesday, August 2nd. They set a "buy" rating and a $102.00 price target on the stock. Credit Suisse Group upped their price target on Ross Stores from $92.00 to $99.00 and gave the company an "outperform" rating in a research report on Friday, August 19th. Robert W. Baird upped their price target on Ross Stores from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, August 19th. Finally, Barclays boosted their price objective on Ross Stores from $85.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, August 22nd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.22.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Ross Stores (ROST)
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