Wealthfront Advisers LLC Purchases 2,352,543 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Wealthfront Advisers LLC boosted its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 8,209.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,381,201 shares of the apparel retailer's stock after purchasing an additional 2,352,543 shares during the period. Wealthfront Advisers LLC owned about 0.72% of Ross Stores worth $360,204,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Ross Stores by 152.9% in 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. bought a new stake in Ross Stores in the 4th quarter worth about $31,000. ORG Partners LLC grew 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 valued at $36,000 after acquiring an additional 191 shares during the period. Kestra Investment Management LLC bought a new position in shares of Ross Stores during the 4th quarter valued at approximately $51,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Ross Stores during the 3rd quarter valued at approximately $53,000. 86.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ROST. Citigroup downgraded shares of Ross Stores from a "buy" rating to a "neutral" rating and reduced their target price for the company from $179.00 to $152.00 in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Robert W. Baird dropped their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Sanford C. Bernstein restated a "market perform" rating and set a $165.00 price target (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company restated a "negative" rating on shares of Ross Stores in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.40.

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Ross Stores Price Performance

Shares of Ross Stores stock opened at $132.12 on Tuesday. The company's fifty day simple moving average is $144.98 and its two-hundred day simple moving average is $147.30. The firm has a market cap of $43.59 billion, a PE ratio of 20.81, 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 12-month low of $127.53 and a 12-month high of $163.60.

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

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $0.405 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.23%. Ross Stores's payout ratio is currently 25.63%.

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.

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