Ross Stores (NASDAQ:ROST) Price Target Cut to $140.00 by Analysts at Wells Fargo & Company

Ross Stores (NASDAQ:ROST - Free Report) had its target price trimmed by Wells Fargo & Company from $165.00 to $140.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the apparel retailer's stock.

A number of other equities research analysts also recently commented on the company. StockNews.com downgraded Ross Stores from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Guggenheim reiterated a "buy" rating and issued a $180.00 target price on shares of Ross Stores in a research report on Friday, November 22nd. Evercore ISI decreased their target price on Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Wednesday. Telsey Advisory Group decreased their target price on Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $163.07.

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Ross Stores Price Performance

Shares of NASDAQ ROST traded down $1.93 during mid-day trading 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. The firm has a market capitalization of $44.86 billion, a PE ratio of 21.41, a P/E/G ratio of 2.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock has a fifty day moving average of $145.37 and a two-hundred day moving average of $147.49. Ross Stores has a 52 week low of $127.53 and a 52 week high of $163.60.

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

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.19%. Ross Stores's dividend payout ratio is 25.63%.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC raised its holdings in shares of Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores in the fourth quarter worth approximately $31,000. ORG Partners LLC raised its holdings in shares of Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after buying an additional 191 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter worth approximately $44,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Ross Stores in the fourth quarter worth approximately $48,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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.