Ross Stores (NASDAQ:ROST) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Ross Stores (NASDAQ:ROST) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $150.00 price objective on the apparel retailer’s stock.

Other equities analysts also recently issued research reports about the stock. Loop Capital cut their price target on shares of Ross Stores from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Wells Fargo & Company cut their price target on shares of Ross Stores from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Jefferies Financial Group upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and increased their price target for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Evercore ISI decreased their price objective on shares of Ross Stores from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley decreased their price objective on shares of Ross Stores from $128.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.06.

Ross Stores Stock Performance

Shares of ROST opened at $146.35 on Monday. The company has a 50-day simple moving average of $135.54 and a 200-day simple moving average of $137.25. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $47.87 billion, a PE ratio of 23.12, a P/E/G ratio of 2.84 and a beta of 1.11. Ross Stores has a 52-week low of $122.36 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. Equities research analysts predict that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. Ross Stores’s dividend payout ratio (DPR) is presently 25.59%.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ross Stores by 14.8% during the second quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock worth $4,998,924,000 after buying an additional 5,060,954 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ross Stores by 25.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. State Street Corp grew its holdings in shares of Ross Stores by 0.4% during the second quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock worth $1,782,873,000 after buying an additional 61,168 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Ross Stores by 0.5% during the second quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock worth $1,310,081,000 after buying an additional 51,765 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock worth $1,222,523,000 after buying an additional 1,657,008 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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.