Resonant Capital Advisors LLC Increases Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Resonant Capital Advisors LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,511 shares of the apparel retailer’s stock after purchasing an additional 149 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Ross Stores were worth $834,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ROST. Algert Global LLC purchased a new stake in Ross Stores in the 2nd quarter worth $421,000. Cetera Investment Advisers raised its position in shares of Ross Stores by 0.3% during the 2nd quarter. Cetera Investment Advisers now owns 42,306 shares of the apparel retailer’s stock valued at $6,148,000 after buying an additional 112 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Ross Stores during the 2nd quarter valued at about $2,178,000. Czech National Bank raised its position in shares of Ross Stores by 6.3% during the 3rd quarter. Czech National Bank now owns 67,952 shares of the apparel retailer’s stock valued at $10,227,000 after buying an additional 4,056 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Ross Stores by 0.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 169,889 shares of the apparel retailer’s stock valued at $25,570,000 after buying an additional 1,585 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROST. Telsey Advisory Group restated a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research report on Monday, November 18th. TD Cowen decreased their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Wells Fargo & Company restated an “equal weight” rating and set a $165.00 target price on shares of Ross Stores in a research report on Friday, January 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price objective (down from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.06.

Ross Stores Trading Down 1.5 %

NASDAQ:ROST opened at $150.56 on Monday. Ross Stores, Inc. has a 52 week low of $127.53 and a 52 week high of $163.60. The firm has a 50 day moving average of $151.90 and a 200 day moving average of $147.93. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $49.67 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.49 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 0.98%. Ross Stores’s dividend payout ratio is currently 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.