Ross Stores (ROST) Coverage Initiated at DA Davidson
DA Davidson assumed coverage on shares of Ross Stores (NASDAQ:ROST) in a research note published on Tuesday, The Fly reports. The brokerage issued a neutral rating on the apparel retailer’s stock.
ROST has been the topic of a number of other reports. Deutsche Bank lifted their price objective on Ross Stores from $91.00 to $96.00 and gave the stock a buy rating in a research note on Monday, August 20th. BidaskClub raised Ross Stores from a buy rating to a strong-buy rating in a research note on Thursday, August 2nd. Loop Capital lifted their price objective on Ross Stores from $88.00 to $95.00 and gave the stock a buy rating in a research note on Wednesday, June 27th. Goldman Sachs Group initiated coverage on Ross Stores in a research note on Monday, September 3rd. They issued a neutral rating and a $104.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Ross Stores from $98.00 to $96.00 and set an overweight rating on the stock in a research note on Friday, August 24th. Twelve research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $95.17.
Ross Stores stock opened at $97.51 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $36.40 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.38 and a beta of 1.11. Ross Stores has a one year low of $62.34 and a one year high of $98.75.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, September 12th. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.
In other news, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the completion of the sale, the director now owns 25,127 shares in the company, valued at $2,384,552.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp increased its holdings in shares of Ross Stores by 216.4% during the second quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after acquiring an additional 1,316 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Ross Stores by 6.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,212,734 shares of the apparel retailer’s stock valued at $102,779,000 after acquiring an additional 73,671 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ross Stores by 31.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the apparel retailer’s stock valued at $552,000 after acquiring an additional 1,553 shares in the last quarter. Global Financial Private Capital LLC bought a new stake in shares of Ross Stores during the second quarter valued at approximately $352,000. Finally, Engineers Gate Manager LP increased its holdings in shares of Ross Stores by 87.5% during the second quarter. Engineers Gate Manager LP now owns 6,537 shares of the apparel retailer’s stock valued at $554,000 after acquiring an additional 3,050 shares in the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.
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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.
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