Ross Stores’ (ROST) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Ross Stores (NASDAQ:ROST) in a report published on Tuesday morning, Marketbeat Ratings reports. They currently have a $140.00 target price on the apparel retailer’s stock, down from their prior target price of $164.00.

A number of other analysts have also commented on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. Guggenheim reiterated a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, TD Cowen lowered their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average price target of $169.06.

Ross Stores Price Performance

ROST opened at $148.61 on Tuesday. The stock has a market capitalization of $49.03 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Ross Stores has a one year low of $127.53 and a one year high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company’s 50 day simple moving average is $150.83 and its 200-day simple moving average is $147.90.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the business posted $1.33 EPS. Ross Stores’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 0.99%. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Hedge Funds Weigh In On Ross Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Intech Investment Management LLC grew its holdings in shares of Ross Stores by 167.7% during the second quarter. Intech Investment Management LLC now owns 9,272 shares of the apparel retailer’s stock valued at $1,347,000 after buying an additional 5,808 shares during the last quarter. Pacer Advisors Inc. lifted its position in Ross Stores by 7.2% in the 2nd quarter. Pacer Advisors Inc. now owns 60,718 shares of the apparel retailer’s stock valued at $8,824,000 after acquiring an additional 4,063 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Ross Stores by 196.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 160,831 shares of the apparel retailer’s stock valued at $23,372,000 after purchasing an additional 106,571 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of Ross Stores by 16,455.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,980 shares of the apparel retailer’s stock worth $433,000 after purchasing an additional 2,962 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Ross Stores in the second quarter worth $255,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.