HWG Holdings LP acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,785 shares of the apparel retailer’s stock, valued at approximately $1,427,000. Ross Stores accounts for about 1.2% of HWG Holdings LP’s investment portfolio, making the stock its 23rd biggest position.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Balentine LLC grew its holdings in shares of Ross Stores by 0.3% in the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares during the period. Sit Investment Associates Inc. grew its holdings in shares of Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after purchasing an additional 1,365 shares during the period. Acrospire Investment Management LLC grew its holdings in shares of Ross Stores by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after purchasing an additional 1,000 shares during the period. Zions Bancorporation grew its holdings in shares of Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after purchasing an additional 1,637 shares during the period. Finally, Trellis Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $205,000. 91.44% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. Nomura reaffirmed a “buy” rating and set a $90.00 target price (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday. BidaskClub lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Cowen set a $78.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research note on Saturday, November 18th. Jefferies Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research note on Saturday, November 18th. Finally, Buckingham Research increased their target price on shares of Ross Stores from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $74.19.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. equities research analysts forecast that Ross Stores, Inc. will post 3.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.79%. Ross Stores’s dividend payout ratio is presently 20.45%.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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