PNC Financial Services Group Inc. Has $48.83 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

PNC Financial Services Group Inc. lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,809 shares of the apparel retailer’s stock after selling 3,550 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ross Stores were worth $48,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC raised its position in shares of Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Ross Stores during the fourth quarter worth $51,000. Ashton Thomas Securities LLC bought a new stake in shares of Ross Stores during the third quarter worth $53,000. Oakworth Capital Inc. bought a new stake in shares of Ross Stores during the fourth quarter worth $57,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Ross Stores during the third quarter worth $59,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Down 1.4 %

Shares of Ross Stores stock opened at $135.96 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company has a market capitalization of $44.86 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The business has a 50-day moving average of $145.37 and a two-hundred day moving average of $147.45. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. As a group, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is currently 25.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ROST shares. Morgan Stanley dropped their price objective on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group dropped their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Finally, BMO Capital Markets dropped their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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 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.