Cullinan Associates Inc. cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,400 shares of the apparel retailer’s stock after selling 900 shares during the period. Cullinan Associates Inc.’s holdings in Ross Stores were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of ROST. Fenimore Asset Management Inc. lifted its stake in Ross Stores by 1.7% during the fourth quarter. Fenimore Asset Management Inc. now owns 1,537,205 shares of the apparel retailer’s stock worth $127,895,000 after purchasing an additional 25,466 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Ross Stores by 4.1% in the fourth quarter. State of Alaska Department of Revenue now owns 178,655 shares of the apparel retailer’s stock valued at $14,862,000 after acquiring an additional 7,016 shares in the last quarter. Welch Group LLC raised its stake in shares of Ross Stores by 18.6% in the fourth quarter. Welch Group LLC now owns 3,054 shares of the apparel retailer’s stock valued at $254,000 after acquiring an additional 478 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Ross Stores in the fourth quarter valued at $30,000. Finally, Csenge Advisory Group acquired a new stake in shares of Ross Stores in the third quarter valued at $69,000. Institutional investors and hedge funds own 88.45% of the company’s stock.
ROST has been the topic of several analyst reports. DA Davidson reduced their price objective on Ross Stores to $84.00 and set an “average” rating on the stock in a research note on Wednesday, November 21st. Zacks Investment Research reiterated a “buy” rating and issued a $113.00 price objective on shares of Ross Stores in a research note on Thursday, November 15th. Bank of America increased their price objective on Ross Stores from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, November 14th. BidaskClub cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, Loop Capital increased their price objective on Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $96.12.
Ross Stores stock opened at $91.21 on Friday. Ross Stores, Inc. has a 1-year low of $73.76 and a 1-year high of $104.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.73 and a current ratio of 1.61. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.93.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, November 20th. The apparel retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.01. Ross Stores had a return on equity of 48.34% and a net margin of 10.68%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm earned $0.72 earnings per share. Ross Stores’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that Ross Stores, Inc. will post 4.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 7th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, December 6th. Ross Stores’s dividend payout ratio is presently 26.95%.
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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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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