Ross Stores (NASDAQ:ROST) Given New $130.00 Price Target at Morgan Stanley

Ross Stores (NASDAQ:ROST - Free Report) had its price target reduced by Morgan Stanley from $140.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the apparel retailer's stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Robert W. Baird dropped their price objective on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday. TD Cowen dropped their price objective on Ross Stores from $185.00 to $177.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. StockNews.com cut Ross Stores from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI lifted their price objective on Ross Stores from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and an average target price of $163.07.

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Ross Stores Trading Down 1.4 %

NASDAQ:ROST traded down $1.93 on Wednesday, reaching $135.96. The company's stock had a trading volume of 4,252,671 shares, compared to its average volume of 2,583,287. Ross Stores has a 12-month low of $127.53 and a 12-month high of $163.60. 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 firm has a market cap of $44.86 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The stock has a 50 day moving average price of $145.37 and a 200 day moving average price of $147.49.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS 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 company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. On average, equities analysts anticipate that Ross Stores 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 paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.19%. This is a boost from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores's payout ratio is presently 25.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ROST. Larson Financial Group LLC grew its stake in Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth about $31,000. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 191 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $44,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $48,000. 86.86% of the stock is owned by institutional investors and hedge funds.

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.