Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,164,490 shares of the apparel retailer’s stock after selling 43,526 shares during the quarter. Parnassus Investments LLC owned about 0.64% of Ross Stores worth $244,479,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Ross Stores by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 27,510,301 shares of the apparel retailer’s stock valued at $2,488,582,000 after purchasing an additional 137,952 shares during the last quarter. BlackRock Inc. raised its position in Ross Stores by 1.9% in the 2nd quarter. BlackRock Inc. now owns 27,193,866 shares of the apparel retailer’s stock valued at $3,049,248,000 after purchasing an additional 507,572 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ross Stores by 31.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,938,572 shares of the apparel retailer’s stock valued at $890,152,000 after purchasing an additional 1,902,348 shares during the last quarter. Geode Capital Management LLC raised its position in Ross Stores by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,558,634 shares of the apparel retailer’s stock valued at $845,418,000 after purchasing an additional 197,259 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Ross Stores by 14.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,355,761 shares of the apparel retailer’s stock valued at $600,541,000 after purchasing an additional 662,825 shares during the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ROST shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $130.00 price target on shares of Ross Stores in a research report on Monday, November 13th. Evercore ISI started coverage on shares of Ross Stores in a research report on Tuesday, November 7th. They set an “outperform” rating and a $140.00 price objective for the company. Morgan Stanley upped their price objective on shares of Ross Stores from $131.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. BMO Capital Markets upped their price objective on shares of Ross Stores from $127.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Finally, Wells Fargo & Company upped their price target on shares of Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.05.

View Our Latest Stock Analysis on ROST

Ross Stores Trading Down 1.4 %

Shares of Ross Stores stock traded down $2.04 during mid-day trading on Monday, hitting $141.64. 386,947 shares of the stock were exchanged, compared to its average volume of 1,648,820. Ross Stores, Inc. has a twelve month low of $99.00 and a twelve month high of $144.75. The stock has a market capitalization of $47.69 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.04. The company has a 50-day simple moving average of $136.27 and a 200 day simple moving average of $123.87. The company has a current ratio of 1.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48.

Ross Stores (NASDAQ:ROSTGet Free Report) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Ross Stores had a net margin of 8.75% and a return on equity of 38.83%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. Research analysts forecast that Ross Stores, Inc. will post 5.36 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 5th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $1.34 annualized dividend and a dividend yield of 0.95%. Ross Stores’s payout ratio is currently 26.53%.

Ross Stores Company Profile

(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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

See Also

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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