Norden Group LLC Takes Position in Ross Stores, Inc. (NASDAQ:ROST)

Norden Group LLC bought a new position in Ross Stores, Inc. (NASDAQ:ROST) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 38,607 shares of the apparel retailer’s stock, valued at approximately $5,667,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in Ross Stores by 2.4% in the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after purchasing an additional 2,969 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Ross Stores by 93.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer’s stock worth $2,019,000 after purchasing an additional 7,033 shares during the last quarter. HTLF Bank acquired a new stake in Ross Stores in the 4th quarter worth approximately $1,094,000. Raymond James & Associates lifted its holdings in Ross Stores by 5.7% in the 4th quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock worth $41,832,000 after purchasing an additional 16,167 shares during the last quarter. Finally, Commerce Bank lifted its holdings in Ross Stores by 232.6% in the 4th quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock worth $4,454,000 after purchasing an additional 22,506 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of ROST stock opened at $144.00 on Friday. The stock’s fifty day simple moving average is $139.36 and its 200 day simple moving average is $140.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The firm has a market cap of $48.04 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.08. Ross Stores, Inc. has a one year low of $107.30 and a one year high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. Ross Stores’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.02%. The ex-dividend date was Tuesday, June 11th. Ross Stores’s dividend payout ratio is 24.79%.

Wall Street Analysts Forecast Growth

ROST has been the subject of several analyst reports. TD Cowen boosted their target price on Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Barclays lifted their price target on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Guggenheim lifted their price target on Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday, June 24th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.06.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the sale, the director now owns 973 shares of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by insiders.

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.