Wealthfront Advisers LLC Acquires 2,352,543 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Wealthfront Advisers LLC boosted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 8,209.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,381,201 shares of the apparel retailer’s stock after buying an additional 2,352,543 shares during the quarter. Wealthfront Advisers LLC’s holdings in Ross Stores were worth $360,204,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ROST. Larson Financial Group LLC grew its position in Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores during the fourth quarter valued at approximately $31,000. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Ross Stores in the fourth quarter worth $51,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ross Stores in the third quarter worth $53,000. 86.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Barclays set a $150.00 price objective on shares of Ross Stores in a research note on Wednesday, March 5th. Robert W. Baird reduced their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Telsey Advisory Group reduced their price objective on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group reduced their price objective on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Ross Stores Price Performance

ROST stock opened at $132.12 on Tuesday. Ross Stores, Inc. has a 52 week low of $127.53 and a 52 week high of $163.60. 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 company has a fifty day simple moving average of $144.98 and a two-hundred day simple moving average of $147.30. The firm has a market capitalization of $43.59 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

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

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.23%. 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 25.63%.

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.