Swiss National Bank Sells 52,700 Shares of Ross Stores, Inc. $ROST

Swiss National Bank lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 942,800 shares of the apparel retailer’s stock after selling 52,700 shares during the quarter. Swiss National Bank owned approximately 0.29% of Ross Stores worth $143,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. American National Bank & Trust bought a new position in Ross Stores in the 3rd quarter worth $26,000. Grey Fox Wealth Advisors LLC bought a new stake in Ross Stores during the third quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Ross Stores by 162.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 148 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Ross Stores in the second quarter worth about $38,000. Finally, True Wealth Design LLC raised its stake in shares of Ross Stores by 152.0% in the third quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock worth $39,000 after buying an additional 155 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $212.15 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $216.80. The business has a 50-day moving average price of $193.96 and a 200-day moving average price of $172.82. The firm has a market cap of $68.62 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.10. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, March 13th. This is an increase from Ross Stores’s previous quarterly dividend of $0.41. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is 24.51%.

Analysts Set New Price Targets

ROST has been the topic of a number of analyst reports. Telsey Advisory Group raised Ross Stores from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $220.00 to $240.00 in a research report on Wednesday, March 4th. Jefferies Financial Group restated a “buy” rating and set a $205.00 target price on shares of Ross Stores in a research note on Monday, December 1st. Barclays lifted their price target on shares of Ross Stores from $205.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Robert W. Baird set a $200.00 price target on shares of Ross Stores in a research report on Wednesday, December 17th. Finally, Guggenheim increased their price objective on shares of Ross Stores from $199.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.29.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.