Strategic Financial Concepts LLC Buys New Shares in Ross Stores, Inc. (NASDAQ:ROST)

Strategic Financial Concepts LLC bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,337 shares of the apparel retailer’s stock, valued at approximately $2,471,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after buying an additional 1,507,922 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Ross Stores by 137.7% in the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after buying an additional 1,144,774 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Ross Stores by 4,787.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock valued at $94,783,000 after purchasing an additional 616,860 shares during the last quarter. Sarasin & Partners LLP bought a new position in Ross Stores during the 4th quarter valued at about $86,732,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Ross Stores by 478.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 400,204 shares of the apparel retailer’s stock valued at $60,235,000 after purchasing an additional 331,007 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $142.13 on Tuesday. The firm’s fifty day simple moving average is $151.04 and its 200-day simple moving average is $148.00. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.22 and a beta of 1.10. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, equities analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 1.03%. Ross Stores’s dividend payout ratio is currently 23.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen lowered their price objective on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Evercore ISI upped their price target on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Guggenheim reaffirmed a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a research report on Friday, November 22nd. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (down previously from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.06.

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.