Circle Wealth Management LLC lifted its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 36.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,948 shares of the apparel retailer’s stock after purchasing an additional 1,839 shares during the quarter. Circle Wealth Management LLC’s holdings in Ross Stores were worth $629,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Advisor Group Holdings Inc. raised its stake in Ross Stores by 10.1% during the first quarter. Advisor Group Holdings Inc. now owns 53,151 shares of the apparel retailer’s stock worth $4,608,000 after acquiring an additional 4,871 shares in the last quarter. Distillate Capital Partners LLC raised its stake in Ross Stores by 29.6% during the first quarter. Distillate Capital Partners LLC now owns 52,122 shares of the apparel retailer’s stock worth $4,714,000 after acquiring an additional 11,897 shares in the last quarter. OLD National Bancorp IN acquired a new position in Ross Stores during the first quarter worth $280,000. Checchi Capital Advisers LLC raised its stake in Ross Stores by 8.0% during the first quarter. Checchi Capital Advisers LLC now owns 3,821 shares of the apparel retailer’s stock worth $346,000 after acquiring an additional 282 shares in the last quarter. Finally, Quent Capital LLC raised its stake in Ross Stores by 106.0% during the first quarter. Quent Capital LLC now owns 1,366 shares of the apparel retailer’s stock worth $124,000 after acquiring an additional 703 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Price Performance
Ross Stores stock opened at $93.51 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.92 and a debt-to-equity ratio of 0.59. Ross Stores, Inc. has a 12-month low of $69.24 and a 12-month high of $123.36. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.34 and a beta of 1.00. The business’s 50-day simple moving average is $84.10 and its 200 day simple moving average is $87.47.
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 analysts’ consensus estimates of $1.03 by $0.08. Ross Stores had a return on equity of 36.36% and a net margin of 7.97%. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the business earned $1.39 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, September 2nd. Ross Stores’s dividend payout ratio (DPR) is currently 29.45%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on Ross Stores from $116.00 to $99.00 in a research note on Friday, May 20th. The Goldman Sachs Group started coverage on Ross Stores in a report on Tuesday, August 2nd. They set a “buy” rating and a $102.00 target price on the stock. Telsey Advisory Group cut Ross Stores from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $80.00 in a report on Friday, May 20th. Loop Capital increased their target price on Ross Stores from $80.00 to $85.00 in a report on Friday, August 19th. Finally, Morgan Stanley restated a “buy” rating and set a $129.00 target price on shares of Ross Stores in a report on Friday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.61.
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. 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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