Cerity Partners LLC Acquires New Shares in Ross Stores, Inc. (NASDAQ:ROST)

Cerity Partners LLC acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,251 shares of the apparel retailer’s stock, valued at approximately $369,000.

Several other institutional investors also recently modified their holdings of the business. Glenview Trust Co boosted its position in shares of Ross Stores by 0.5% during the second quarter. Glenview Trust Co now owns 158,518 shares of the apparel retailer’s stock valued at $11,132,000 after buying an additional 804 shares during the last quarter. Inspire Investing LLC lifted its holdings in Ross Stores by 9.5% in the second quarter. Inspire Investing LLC now owns 4,583 shares of the apparel retailer’s stock valued at $322,000 after acquiring an additional 399 shares during the period. SeaCrest Wealth Management LLC bought a new position in Ross Stores in the second quarter valued at about $98,000. Lazard Asset Management LLC lifted its holdings in Ross Stores by 26.0% in the second quarter. Lazard Asset Management LLC now owns 827,471 shares of the apparel retailer’s stock valued at $58,111,000 after acquiring an additional 170,820 shares during the period. Finally, Shell Asset Management Co. lifted its holdings in Ross Stores by 3.9% in the second quarter. Shell Asset Management Co. now owns 17,882 shares of the apparel retailer’s stock valued at $1,256,000 after acquiring an additional 674 shares during the period. 87.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ROST shares. Robert W. Baird increased their target price on Ross Stores from $105.00 to $125.00 in a report on Friday. Citigroup increased their target price on Ross Stores from $100.00 to $116.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Ross Stores from $99.00 to $121.00 in a report on Friday. UBS Group increased their target price on Ross Stores from $92.00 to $108.00 and gave the company a “neutral” rating in a report on Friday. Finally, The Goldman Sachs Group started coverage on Ross Stores in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $102.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.72.

Ross Stores Stock Performance

NASDAQ:ROST opened at $107.59 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. Ross Stores, Inc. has a 12-month low of $69.24 and a 12-month high of $116.84. The stock has a 50-day moving average price of $89.91 and a 200 day moving average price of $85.45. The stock has a market capitalization of $37.34 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.39 and a beta of 0.97.

Ross Stores (NASDAQ:ROSTGet Rating) last released its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.19. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Ross Stores had a return on equity of 34.95% and a net margin of 7.74%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. Equities research analysts forecast that Ross Stores, Inc. will post 4.29 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Tuesday, December 6th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s dividend payout ratio is presently 30.10%.

Ross Stores Profile

(Get Rating)

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.

Further Reading

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

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