North Point Portfolio Managers Corp OH Reduces Holdings in Ross Stores, Inc. (NASDAQ:ROST)

North Point Portfolio Managers Corp OH lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,812 shares of the apparel retailer’s stock after selling 2,108 shares during the quarter. Ross Stores comprises about 2.5% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 14th largest position. North Point Portfolio Managers Corp OH’s holdings in Ross Stores were worth $14,191,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Oak Ridge Investments LLC grew its holdings in shares of Ross Stores by 10.6% in the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock worth $17,524,000 after purchasing an additional 11,060 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after acquiring an additional 1,144,774 shares during the period. Czech National Bank raised its stake in shares of Ross Stores by 5.9% during the fourth quarter. Czech National Bank now owns 71,933 shares of the apparel retailer’s stock valued at $10,881,000 after acquiring an additional 3,981 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Ross Stores by 917.2% in the third quarter. Algert Global LLC now owns 29,498 shares of the apparel retailer’s stock valued at $4,440,000 after purchasing an additional 26,598 shares during the period. Finally, Retirement Systems of Alabama grew its stake in Ross Stores by 251.7% in the third quarter. Retirement Systems of Alabama now owns 260,126 shares of the apparel retailer’s stock worth $39,152,000 after purchasing an additional 186,161 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $149.28 on Monday. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The company has a market cap of $49.25 billion, a PE ratio of 23.51, a P/E/G ratio of 2.48 and a beta of 1.10. The business has a 50-day simple moving average of $151.12 and a two-hundred day simple moving average of $147.93.

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

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROST. Telsey Advisory Group reiterated a “market perform” rating and issued a $175.00 target price on shares of Ross Stores in a report on Monday, November 18th. Evercore ISI increased their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (down from $164.00) on shares of Ross Stores in a research note on Tuesday, January 21st. Finally, TD Cowen cut their price objective on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $169.06.

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 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.