Tobam Reduces Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Tobam decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,486 shares of the apparel retailer’s stock after selling 339 shares during the period. Tobam’s holdings in Ross Stores were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in Ross Stores by 0.5% in the 3rd quarter. State Street Corp now owns 14,137,281 shares of the apparel retailer’s stock worth $2,127,802,000 after buying an additional 67,861 shares during the period. Geode Capital Management LLC grew its stake in Ross Stores by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer’s stock worth $1,222,915,000 after acquiring an additional 34,475 shares in the last quarter. FMR LLC increased its position in shares of Ross Stores by 4.9% during the third quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer’s stock worth $1,025,309,000 after acquiring an additional 316,652 shares during the period. Marshfield Associates raised its stake in shares of Ross Stores by 0.4% during the third quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer’s stock valued at $588,337,000 after acquiring an additional 14,193 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Trading Down 1.7 %

Ross Stores stock opened at $142.59 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock has a market cap of $47.04 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10. The stock has a 50-day moving average of $151.28 and a two-hundred day moving average of $147.95. Ross Stores, Inc. has a one year low of $127.53 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. On average, research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. TD Cowen decreased their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Evercore ISI increased their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Guggenheim reiterated a “buy” rating and set a $180.00 price objective on shares of Ross Stores in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $169.06.

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.