Hendershot Investments Inc. lowered its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,832 shares of the apparel retailer's stock after selling 497 shares during the period. Hendershot Investments Inc.'s holdings in Ross Stores were worth $4,062,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Ross Stores during the first quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in Ross Stores during the first quarter valued at approximately $31,000. CVA Family Office LLC grew its holdings in Ross Stores by 1,466.7% during the second quarter. CVA Family Office LLC now owns 470 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 440 shares during the last quarter. Allworth Financial LP grew its holdings in 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 purchasing an additional 170 shares during the last quarter. Finally, Okabena Investment Services Inc. acquired a new position in Ross Stores during the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 87.65% of the company's stock.
Get Ross Stores alerts:Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Credit Suisse Group increased their price target on Ross Stores from $92.00 to $99.00 and gave the company an "outperform" rating in a report on Friday, August 19th. Loop Capital increased their price target on Ross Stores from $80.00 to $85.00 in a report on Friday, August 19th. The Goldman Sachs Group initiated coverage on shares of Ross Stores in a research note on Tuesday, August 2nd. They issued a "buy" rating and a $102.00 price objective on the stock. Evercore ISI set a $70.00 price objective on shares of Ross Stores in a research note on Tuesday, July 19th. Finally, Robert W. Baird raised their price objective on shares of Ross Stores from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Friday, August 19th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and an average price target of $102.22.
Ross Stores Stock Performance
ROST stock traded up $1.63 during midday trading on Monday, hitting $85.90. The stock had a trading volume of 61,339 shares, compared to its average volume of 3,196,895. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.11 and a beta of 0.95. Ross Stores, Inc. has a 52 week low of $69.24 and a 52 week high of $123.36. The stock has a 50-day simple moving average of $87.16 and a 200 day simple moving average of $87.24. 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 issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.62 billion. Ross Stores had a return on equity of 36.36% and a net margin of 7.97%. The business's revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 3.99 earnings per share for the current 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 issued a dividend of $0.31 per share. The ex-dividend date was Friday, September 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.44%. Ross Stores's payout ratio is presently 29.45%.
About Ross Stores
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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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