Ross Stores (NASDAQ:ROST - Free Report) had its price objective decreased by BMO Capital Markets from $168.00 to $156.00 in a research note published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the apparel retailer's stock.
ROST has been the topic of several other reports. Telsey Advisory Group dropped their price objective on Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a research note on Wednesday. Guggenheim reiterated a "buy" rating and set a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Wells Fargo & Company lowered their target price on Ross Stores from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Robert W. Baird lowered their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Evercore ISI lowered their target price on Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.07.
View Our Latest Analysis on Ross Stores
Ross Stores Stock Down 1.4 %
NASDAQ:ROST traded down $1.93 during trading hours on Wednesday, hitting $135.96. 4,252,671 shares of the company traded hands, compared to its average volume of 2,583,287. 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's 50-day simple moving average is $145.37 and its 200-day simple moving average is $147.49. Ross Stores has a one year low of $127.53 and a one year high of $163.60. The company has a market cap of $44.86 billion, a PE ratio of 21.41, a PEG ratio of 2.13 and a beta of 1.15.
Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share 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 business had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.95 billion. Equities analysts predict that Ross Stores will post 6.17 earnings per share for the current year.
Ross Stores Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is presently 25.63%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ROST. Norges Bank purchased a new position in Ross Stores during the 4th quarter valued at about $649,318,000. Price T Rowe Associates Inc. MD grew its holdings in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Ross Stores by 8,209.0% during the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in Ross Stores during the 4th quarter valued at about $230,204,000. Finally, Wellington Management Group LLP grew its holdings in Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer's stock valued at $581,373,000 after buying an additional 1,507,922 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.
About Ross Stores
(
Get Free Report)
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.
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