Citizens Financial Group Inc. RI Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Citizens Financial Group Inc. RI bought a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,585 shares of the apparel retailer’s stock, valued at approximately $391,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROST. Wellington Management Group LLP raised its position in shares of Ross Stores by 64.0% during the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares during the period. Raymond James Financial Inc. bought a new stake in Ross Stores during the 4th quarter valued at $173,329,000. Nordea Investment Management AB raised its holdings in 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 buying an additional 1,144,774 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Ross Stores by 4,787.8% in the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock valued at $94,783,000 after buying an additional 616,860 shares in the last quarter. Finally, Sarasin & Partners LLP acquired a new position in shares of Ross Stores during the fourth quarter valued at about $86,732,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Down 2.5 %

Shares of ROST stock opened at $123.30 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The firm has a market cap of $40.68 billion, a P/E ratio of 19.42, a PEG ratio of 2.13 and a beta of 1.15. The company has a 50 day moving average of $143.45 and a 200-day moving average of $146.81. Ross Stores, Inc. has a 12-month low of $123.01 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ROST shares. UBS Group lowered their target price on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Barclays set a $150.00 price objective on Ross Stores in a research note on Wednesday, March 5th. Morgan Stanley cut their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI lowered their price target on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Robert W. Baird cut their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.40.

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.