Portfolio Design Labs LLC Buys 3,818 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Portfolio Design Labs LLC lifted its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,653 shares of the apparel retailer's stock after purchasing an additional 3,818 shares during the quarter. Portfolio Design Labs LLC's holdings in Ross Stores were worth $2,368,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ROST. Exchange Traded Concepts LLC raised its holdings in shares of Ross Stores by 158.5% in the third quarter. Exchange Traded Concepts LLC now owns 9,530 shares of the apparel retailer's stock worth $1,434,000 after buying an additional 5,843 shares during the period. Armstrong Advisory Group Inc. purchased a new position in shares of Ross Stores during the third quarter worth approximately $33,000. Procyon Advisors LLC raised its stake in shares of Ross Stores by 7.7% during the third quarter. Procyon Advisors LLC now owns 1,849 shares of the apparel retailer's stock valued at $278,000 after acquiring an additional 132 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Ross Stores during the 3rd quarter worth $795,000. Finally, Creative Planning increased its position in Ross Stores by 2.5% during the 3rd quarter. Creative Planning now owns 59,913 shares of the apparel retailer's stock valued at $9,017,000 after purchasing an additional 1,442 shares during the period. Institutional investors own 86.86% of the company's stock.

Ross Stores Stock Down 1.2 %

NASDAQ ROST traded down $1.68 during trading hours on Friday, hitting $138.76. 2,350,592 shares of the company were exchanged, compared to its average volume of 2,229,993. 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 company has a 50 day moving average of $149.53 and a two-hundred day moving average of $147.88. The firm has a market cap of $45.78 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.22 and a beta of 1.10. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business's revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, December 10th. Ross Stores's dividend payout ratio (DPR) is presently 23.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ROST. Telsey Advisory Group reaffirmed a "market perform" rating and set a $175.00 price objective on shares of Ross Stores in a research report on Monday, November 18th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Wells Fargo & Company restated an "equal weight" rating and issued a $165.00 target price on shares of Ross Stores in a research note on Friday, January 10th. TD Cowen decreased their price objective on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating for the company in a research report on Tuesday, November 19th. Finally, Guggenheim reissued a "buy" rating and issued a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.06.

About Ross Stores

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.