Ross Stores, Inc. (NASDAQ:ROST) – Analysts at SunTrust Banks issued their Q1 2019 EPS estimates for Ross Stores in a report issued on Wednesday. SunTrust Banks analyst P. Quintiliano forecasts that the apparel retailer will post earnings per share of $1.08 for the quarter. SunTrust Banks currently has a “Buy” rating and a $93.00 target price on the stock. SunTrust Banks also issued estimates for Ross Stores’ Q2 2019 earnings at $1.04 EPS, Q3 2019 earnings at $0.89 EPS and Q4 2019 earnings at $1.06 EPS.
Several other equities research analysts have also recently issued reports on ROST. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Susquehanna Bancshares set a $95.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital started coverage on shares of Ross Stores in a research note on Thursday. They set a “buy” rating and a $85.00 price target on the stock. Cowen set a $85.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Tuesday. Finally, Telsey Advisory Group raised their price target on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.86.
Hedge funds have recently made changes to their positions in the company. Lenox Wealth Management Inc. lifted its holdings in shares of Ross Stores by 1,404.5% during the 3rd quarter. Lenox Wealth Management Inc. now owns 12,487 shares of the apparel retailer’s stock worth $806,000 after acquiring an additional 11,657 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of Ross Stores during the 4th quarter worth about $837,000. Pennsylvania Trust Co lifted its holdings in shares of Ross Stores by 77.9% during the 4th quarter. Pennsylvania Trust Co now owns 6,848 shares of the apparel retailer’s stock worth $550,000 after acquiring an additional 2,998 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Ross Stores by 0.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 401,156 shares of the apparel retailer’s stock worth $25,903,000 after acquiring an additional 3,212 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Ross Stores by 190.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 259,209 shares of the apparel retailer’s stock worth $16,737,000 after acquiring an additional 169,856 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
Ross Stores declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.225 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, March 16th. Ross Stores’s dividend payout ratio is presently 18.03%.
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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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