Ross Stores (NASDAQ:ROST) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Ross Stores (NASDAQ:ROST) in a research report report published on Friday, MarketBeat reports. Wells Fargo & Company currently has a $165.00 price target on the apparel retailer’s stock.

Several other equities research analysts have also commented on ROST. TD Cowen lowered their price target on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein reiterated a “market perform” rating and set a $165.00 price target (down from $178.00) on shares of Ross Stores in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 price objective on shares of Ross Stores in a research note on Monday, November 18th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $171.29.

Ross Stores Stock Down 1.9 %

Shares of ROST stock opened at $151.74 on Friday. Ross Stores has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The firm has a market capitalization of $50.06 billion, a PE ratio of 23.90, a P/E/G ratio of 2.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock’s 50-day simple moving average is $149.52 and its 200-day simple moving average is $147.68.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Ross Stores’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock valued at $299,583,000 after purchasing an additional 1,144,774 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Ross Stores by 4,787.8% during the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock worth $94,783,000 after buying an additional 616,860 shares in the last quarter. AQR Capital Management LLC boosted its stake in Ross Stores by 59.4% during the second quarter. AQR Capital Management LLC now owns 1,261,102 shares of the apparel retailer’s stock worth $183,263,000 after buying an additional 469,717 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Ross Stores by 24.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,007,528 shares of the apparel retailer’s stock valued at $291,734,000 after buying an additional 390,518 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

About Ross Stores

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.