Ross Stores, Inc. (NASDAQ:ROST) Holdings Lifted by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,907 shares of the apparel retailer’s stock after acquiring an additional 2,032 shares during the quarter. Arkadios Wealth Advisors’ holdings in Ross Stores were worth $1,876,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Ross Stores during the fourth quarter valued at $523,185,000. First Trust Advisors LP increased its position in shares of Ross Stores by 515.8% in the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock worth $243,135,000 after acquiring an additional 1,471,585 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Ross Stores by 1,437.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock valued at $142,039,000 after acquiring an additional 959,594 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Ross Stores in the 4th quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP boosted its stake in Ross Stores by 14.6% in the 4th quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after purchasing an additional 601,031 shares during the period. Institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ROST shares. Morgan Stanley boosted their target price on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price target on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Telsey Advisory Group increased their price target on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Loop Capital raised their price target on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, UBS Group upped their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.71.

Ross Stores Stock Performance

Shares of NASDAQ:ROST traded up $1.90 during trading on Thursday, reaching $151.80. The stock had a trading volume of 1,941,119 shares, compared to its average volume of 2,244,469. The stock has a fifty day simple moving average of $145.57 and a two-hundred day simple moving average of $142.44. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a 52 week low of $108.35 and a 52 week high of $163.60. The firm has a market capitalization of $50.64 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 2.17 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the firm posted $1.32 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Ross Stores Company 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.