Blueshift Asset Management LLC Cuts Position in Ross Stores, Inc. (NASDAQ:ROST)

Blueshift Asset Management LLC reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 73.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,453 shares of the apparel retailer’s stock after selling 12,614 shares during the period. Blueshift Asset Management LLC’s holdings in Ross Stores were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. First Capital Advisors Group LLC. purchased a new position in Ross Stores in the second quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new position in Ross Stores in the fourth quarter worth $29,000. Quarry LP purchased a new position in Ross Stores in the first quarter worth $29,000. Clearstead Advisors LLC grew its position in Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 229 shares in the last quarter. Finally, Steward Financial Group LLC boosted its position in Ross Stores by 164.1% during the third quarter. Steward Financial Group LLC now owns 338 shares of the apparel retailer’s stock valued at $38,000 after buying an additional 210 shares during the period. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Ross Stores from $131.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Wells Fargo & Company upped their price target on shares of Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Evercore ISI started coverage on shares of Ross Stores in a research note on Tuesday, November 7th. They set an “outperform” rating and a $140.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Ross Stores from $127.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Finally, Gordon Haskett raised shares of Ross Stores from an “accumulate” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target of $131.05.

Check Out Our Latest Stock Report on Ross Stores

Ross Stores Price Performance

ROST stock opened at $142.75 on Tuesday. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $144.75. The company has a market cap of $48.06 billion, a P/E ratio of 28.27, a PEG ratio of 2.08 and a beta of 1.04. The firm has a 50-day moving average of $136.50 and a 200 day moving average of $124.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.70 and a quick ratio of 1.11.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. Ross Stores had a net margin of 8.75% and a return on equity of 38.83%. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Ross Stores, Inc. will post 5.36 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Tuesday, December 5th were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Monday, December 4th. Ross Stores’s dividend payout ratio is 26.53%.

About Ross Stores

(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.

Further Reading

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

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