Loop Capital Cuts Ross Stores (NASDAQ:ROST) Price Target to $175.00

Ross Stores (NASDAQ:ROST) had its price target trimmed by Loop Capital from $190.00 to $175.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the apparel retailer’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. TD Cowen reduced their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Guggenheim reissued a “buy” rating and set a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Telsey Advisory Group reduced their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Ross Stores from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.12.

Ross Stores Price Performance

ROST stock opened at $138.64 on Wednesday. The business’s fifty day moving average price is $146.03 and its 200 day moving average price is $147.64. Ross Stores has a 12-month low of $127.53 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 company has a market capitalization of $45.74 billion, a PE ratio of 21.83, a P/E/G ratio of 2.13 and a beta of 1.10.

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

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is currently 23.15%.

Hedge Funds Weigh In On Ross Stores

Large investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp lifted its holdings 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 valued at $588,000 after purchasing an additional 70 shares during the last quarter. Howe & Rusling Inc. increased its position in Ross Stores by 1.9% during the third 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 period. Forum Financial Management LP lifted its stake in Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock valued at $223,000 after buying an additional 74 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Ross Stores by 19.1% in the third quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock valued at $71,000 after acquiring an additional 76 shares during the period. Finally, Alhambra Investment Management LLC grew its position in shares of Ross Stores by 5.2% during the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock worth $234,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

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.