Tritonpoint Wealth LLC Sells 119 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Tritonpoint Wealth LLC cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,051 shares of the apparel retailer’s stock after selling 119 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Ross Stores were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores in the 3rd quarter worth approximately $33,000. ORG Partners LLC lifted its holdings in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after buying an additional 191 shares during the period. Ashton Thomas Securities LLC bought a new stake in Ross Stores during the 3rd quarter valued at $53,000. Banque Cantonale Vaudoise purchased a new position in shares of Ross Stores in the 3rd quarter valued at $59,000. Finally, AM Squared Ltd bought a new position in shares of Ross Stores in the 3rd quarter worth $60,000. 86.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent research reports. Evercore ISI raised their price objective on Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $165.00 price objective on shares of Ross Stores in a research report on Friday, January 10th. Guggenheim reissued a “buy” rating and set a $180.00 target price on shares of Ross Stores in a research report on Friday, November 22nd. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.06.

Ross Stores Trading Down 1.5 %

Shares of NASDAQ:ROST opened at $150.56 on Monday. The company’s 50 day moving average is $151.90 and its two-hundred day moving average is $147.93. The company has a market cap of $49.67 billion, a PE ratio of 23.71, a P/E/G ratio of 2.48 and a beta of 1.10. Ross Stores, Inc. has a 52 week low of $127.53 and a 52 week high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last released its quarterly 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. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Tuesday, December 10th. Ross Stores’s payout ratio is currently 23.15%.

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.