Daiwa Securities Group Inc. Grows Stake in Ross Stores, Inc. (NASDAQ:ROST)

Daiwa Securities Group Inc. raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,146 shares of the apparel retailer's stock after purchasing an additional 3,785 shares during the period. Daiwa Securities Group Inc.'s holdings in Ross Stores were worth $10,006,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ROST. Hahn Capital Management LLC increased its stake in shares of Ross Stores by 40.9% in the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after purchasing an additional 21,500 shares in the last quarter. Sovran Advisors LLC bought a new stake in shares of Ross Stores in the 4th quarter valued at approximately $269,000. Oak Ridge Investments LLC raised its position in Ross Stores by 10.6% in the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock worth $17,524,000 after purchasing an additional 11,060 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Ross Stores by 22.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock valued at $431,000 after purchasing an additional 524 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Ross Stores by 137.7% in the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock worth $299,583,000 after buying an additional 1,144,774 shares during the period. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

ROST opened at $128.65 on Wednesday. The firm's 50-day moving average price is $144.53 and its 200-day moving average price is $147.11. The company has a market cap of $42.45 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60.

Remove Ads

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. As a group, equities analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.26%. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores's dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Telsey Advisory Group lowered their price objective on shares of 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. Wells Fargo & Company reaffirmed a "negative" rating on shares of Ross Stores in a research report on Wednesday, March 5th. TD Cowen cut their price objective on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. Loop Capital lowered their target price on Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.40.

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.