Bruce G. Allen Investments LLC Grows Stake in Ross Stores, Inc. (NASDAQ:ROST)

Bruce G. Allen Investments LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 227.6% during the 4th quarter, Holdings Channel reports. The firm owned 416 shares of the apparel retailer’s stock after acquiring an additional 289 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Ross Stores were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROST. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ross Stores during the second quarter worth $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Ross Stores in the third quarter worth approximately $33,000. ORG Partners LLC grew its holdings in Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 191 shares during the period. Ashton Thomas Securities LLC purchased a new position in Ross Stores during the third quarter worth approximately $53,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Ross Stores in the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

ROST stock traded down $2.78 during midday trading on Friday, reaching $151.85. The company had a trading volume of 1,724,821 shares, compared to its average volume of 2,014,588. The firm has a market capitalization of $50.10 billion, a PE ratio of 23.91, a P/E/G ratio of 2.54 and a beta of 1.10. The stock has a 50 day moving average price of $149.29 and a 200 day moving average price of $147.66. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is 23.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Guggenheim restated a “buy” rating and issued a $180.00 price objective on shares of Ross Stores in a report on Friday, November 22nd. Evercore ISI boosted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wells Fargo & Company reissued an “equal weight” rating and issued a $165.00 target price on shares of Ross Stores in a research note on Friday. TD Cowen cut their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $175.00 target price on shares of Ross Stores in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $171.29.

Ross Stores 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.