Ross Stores (NASDAQ:ROST) Sets New 1-Year Low – Here’s What Happened

Shares of Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week low during trading on Wednesday . The company traded as low as $126.70 and last traded at $126.70, with a volume of 3595606 shares. The stock had previously closed at $128.65.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $180.00 price objective on shares of Ross Stores in a research report on Friday, November 22nd. Telsey Advisory Group decreased their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research note on Wednesday, March 5th. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. BMO Capital Markets decreased their target price on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, UBS Group cut their price target on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Ross Stores Stock Down 1.7 %

The company has a market capitalization of $41.74 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $144.53 and a 200-day moving average of $147.11.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. On average, equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.28%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Ross Stores in the fourth quarter valued at $649,318,000. Price T Rowe Associates Inc. MD grew its position in shares of Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock valued at $2,952,170,000 after acquiring an additional 3,995,760 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after purchasing an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Ross Stores in the 4th quarter worth about $230,204,000. Finally, Wellington Management Group LLP boosted its position in Ross Stores by 64.0% during the third 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. Institutional investors and hedge funds own 86.86% of the company’s stock.

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 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.