Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Lummis Asset Management LP

Lummis Asset Management LP cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,022 shares of the apparel retailer’s stock after selling 1,773 shares during the period. Ross Stores accounts for about 2.7% of Lummis Asset Management LP’s investment portfolio, making the stock its 10th biggest position. Lummis Asset Management LP’s holdings in Ross Stores were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ROST. University of Texas Texas AM Investment Management Co. bought a new position in Ross Stores in the second quarter valued at about $27,000. Armstrong Advisory Group Inc. acquired a new position in Ross Stores during the 3rd quarter valued at about $33,000. ORG Partners LLC lifted its position in Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 191 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Ross Stores in the 3rd quarter valued at about $53,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Ross Stores during the 3rd quarter worth approximately $59,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROST has been the topic of several analyst reports. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. TD Cowen reduced their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Evercore ISI upped their price objective on Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Guggenheim restated a “buy” rating and set a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Finally, Citigroup cut Ross Stores from a “buy” rating to a “neutral” rating and lowered their price target for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.29.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $149.15 on Friday. The company has a fifty day moving average price of $150.22 and a 200 day moving average price of $147.75. The firm has a market cap of $49.21 billion, a PE ratio of 23.49, a PEG ratio of 2.51 and a beta of 1.10. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 1-year low of $127.53 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data 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 return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Ross Stores’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.99%. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Ross Stores 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 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.