Charles Schwab Investment Management Inc. Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Charles Schwab Investment Management Inc. raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,949,821 shares of the apparel retailer’s stock after buying an additional 50,550 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ross Stores were worth $294,949,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 191 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Ross Stores during the fourth quarter valued at $51,000. Ashton Thomas Securities LLC bought a new position in Ross Stores during the third quarter valued at $53,000. Oakworth Capital Inc. purchased a new position in shares of Ross Stores in the 4th quarter worth $57,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Ross Stores in the 3rd quarter worth about $59,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Telsey Advisory Group lowered their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Ross Stores in a research note on Friday, November 22nd. 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. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Ross Stores from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.12.

Ross Stores Stock Performance

Ross Stores stock opened at $138.64 on Thursday. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. 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. The company has a 50 day moving average price of $146.03 and a 200-day moving average price of $147.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last posted its quarterly 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. The business had revenue of $5.91 billion for 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%. As a group, equities analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 annualized dividend and a dividend yield of 1.17%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is currently 23.15%.

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.