Sage Mountain Advisors LLC Grows Stake in Ross Stores, Inc. (NASDAQ:ROST)

Sage Mountain Advisors LLC lifted its position in Ross Stores, Inc. (NASDAQ:ROST) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,777 shares of the apparel retailer’s stock after buying an additional 226 shares during the period. Sage Mountain Advisors LLC’s holdings in Ross Stores were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Peapack Gladstone Financial Corp boosted its stake in shares of Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock worth $588,000 after buying an additional 70 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Ross Stores by 1.9% in the 3rd quarter. Howe & Rusling Inc. now owns 3,986 shares of the apparel retailer’s stock worth $600,000 after buying an additional 73 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Ross Stores by 19.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock worth $71,000 after buying an additional 76 shares during the last quarter. Alhambra Investment Management LLC boosted its stake in shares of Ross Stores by 5.2% in the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock worth $234,000 after buying an additional 76 shares during the last quarter. Finally, Key Financial Inc boosted its stake in shares of Ross Stores by 13.2% in the 4th quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock worth $100,000 after buying an additional 77 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Down 1.7 %

Shares of ROST stock opened at $126.52 on Thursday. Ross Stores, Inc. has a 12-month low of $126.44 and a 12-month 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. The stock’s 50-day moving average price is $144.03 and its 200-day moving average price is $146.97. The stock has a market capitalization of $41.74 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS 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 1.28%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s payout ratio is 25.63%.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent research reports. Loop Capital decreased their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Robert W. Baird decreased their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Evercore ISI decreased their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, BMO Capital Markets decreased their target price on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

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.