Banco Santander S.A. Raises Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Banco Santander S.A. raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 1,299.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,739 shares of the apparel retailer’s stock after purchasing an additional 83,328 shares during the period. Banco Santander S.A.’s holdings in Ross Stores were worth $8,118,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ROST. Norges Bank purchased a new stake in Ross Stores during the 4th quarter valued at $399,510,000. EdgePoint Investment Group Inc. purchased a new stake in Ross Stores during the 4th quarter valued at $287,967,000. JPMorgan Chase & Co. boosted its stake in Ross Stores by 93.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,865,310 shares of the apparel retailer’s stock valued at $556,007,000 after purchasing an additional 2,348,436 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ross Stores by 47.8% during the 1st quarter. Victory Capital Management Inc. now owns 4,686,990 shares of the apparel retailer’s stock valued at $437,984,000 after purchasing an additional 1,514,790 shares during the last quarter. Finally, State Street Corp boosted its stake in Ross Stores by 5.1% during the 4th quarter. State Street Corp now owns 17,026,336 shares of the apparel retailer’s stock valued at $1,945,770,000 after purchasing an additional 827,119 shares during the last quarter. 87.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROST. Evercore ISI set a $70.00 price target on Ross Stores in a report on Tuesday, July 19th. Citigroup lowered their price target on Ross Stores from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 20th. Wells Fargo & Company lowered their price target on Ross Stores from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, May 20th. Robert W. Baird lowered their price target on Ross Stores from $115.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Finally, Loop Capital lowered their price target on Ross Stores from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, May 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.89.

Ross Stores Price Performance

NASDAQ:ROST opened at $84.23 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.61. The business’s 50-day simple moving average is $78.21 and its two-hundred day simple moving average is $88.61. The stock has a market cap of $29.47 billion, a PE ratio of 18.76, a P/E/G ratio of 1.81 and a beta of 1.03. Ross Stores, Inc. has a 52 week low of $69.24 and a 52 week high of $127.34.

Ross Stores (NASDAQ:ROSTGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The apparel retailer reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.54 billion. Ross Stores had a net margin of 8.46% and a return on equity of 39.61%. Ross Stores’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 earnings per share. As a group, analysts forecast that Ross Stores, Inc. will post 4.4 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, June 7th were given a dividend of $0.31 per share. The ex-dividend date was Monday, June 6th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.47%. Ross Stores’s payout ratio is 27.62%.

Insider Activity

In other news, Director Michael J. Bush sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $81.46, for a total transaction of $81,460.00. Following the completion of the transaction, the director now owns 34,496 shares in the company, valued at $2,810,044.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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