Oakbrook Investments LLC Invests $1.46 Million in Ross Stores, Inc. (ROST) Stock
Oakbrook Investments LLC purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) in the fourth quarter, Holdings Channel reports. The firm purchased 18,240 shares of the apparel retailer’s stock, valued at approximately $1,464,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in Ross Stores by 17.7% during the 4th quarter. Acadian Asset Management LLC now owns 58,247 shares of the apparel retailer’s stock valued at $4,674,000 after purchasing an additional 8,757 shares during the last quarter. Westpac Banking Corp boosted its stake in Ross Stores by 39.9% during the 4th quarter. Westpac Banking Corp now owns 245,746 shares of the apparel retailer’s stock valued at $19,721,000 after purchasing an additional 70,100 shares during the last quarter. CAPROCK Group Inc. acquired a new position in Ross Stores during the 4th quarter valued at about $204,000. Schwab Charles Investment Management Inc. boosted its stake in Ross Stores by 1.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,374,214 shares of the apparel retailer’s stock valued at $110,281,000 after purchasing an additional 15,693 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in Ross Stores during the 4th quarter valued at about $1,427,000. Institutional investors and hedge funds own 91.44% of the company’s stock.
Ross Stores, Inc. (NASDAQ:ROST) opened at $83.76 on Friday. Ross Stores, Inc. has a 12 month low of $52.85 and a 12 month high of $84.26. The firm has a market capitalization of $31,202.22, a P/E ratio of 26.76, a PEG ratio of 2.48 and a beta of 1.15. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. Ross Stores’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. research analysts forecast that Ross Stores, Inc. will post 3.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. Ross Stores’s dividend payout ratio (DPR) is presently 20.45%.
A number of equities analysts have issued reports on ROST shares. Morgan Stanley lifted their price target on Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Telsey Advisory Group lifted their price target on Ross Stores from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Jefferies Group set a $66.00 price target on Ross Stores and gave the company a “hold” rating in a research note on Saturday, November 18th. Finally, Royal Bank of Canada set a $62.00 target price on Ross Stores and gave the stock a “hold” rating in a research note on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.19.
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Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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