Jefferies Group reaffirmed their hold rating on shares of Ross Stores (NASDAQ:ROST) in a report published on Wednesday morning. The firm currently has a $73.00 price objective on the apparel retailer’s stock. Jefferies Group also issued estimates for Ross Stores’ Q1 2019 earnings at $1.04 EPS, Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $3.95 EPS and FY2020 earnings at $4.22 EPS.
A number of other equities research analysts have also recently commented on ROST. BMO Capital Markets reiterated a hold rating and set a $78.00 target price on shares of Ross Stores in a report on Wednesday. BidaskClub cut Ross Stores from a buy rating to a hold rating in a report on Thursday, January 11th. Morgan Stanley increased their target price on Ross Stores from $70.00 to $77.00 and gave the company an overweight rating in a report on Friday, November 17th. Telsey Advisory Group increased their target price on Ross Stores from $70.00 to $75.00 and gave the company an outperform rating in a report on Friday, November 17th. Finally, SunTrust Banks set a $80.00 target price on Ross Stores and gave the company a buy rating in a report on Friday, November 17th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $80.86.
Ross Stores (NASDAQ:ROST) traded up $1.79 on Wednesday, hitting $77.01. The company had a trading volume of 3,419,952 shares, compared to its average volume of 2,853,814. The firm has a market cap of $29,429.06, a PE ratio of 21.69, a P/E/G ratio of 1.91 and a beta of 1.09. The company has a current ratio of 1.64, a quick ratio of 0.68 and a debt-to-equity ratio of 0.10. Ross Stores has a 1-year low of $52.85 and a 1-year high of $85.66.
Ross Stores announced that its board has initiated a stock repurchase program on Tuesday, March 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm 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 boost from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, March 16th. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. Ross Stores’s dividend payout ratio (DPR) is 18.03%.
Several hedge funds have recently bought and sold shares of ROST. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Ross Stores by 5.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,653 shares of the apparel retailer’s stock worth $5,789,000 after purchasing an additional 5,031 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of Ross Stores by 480.2% in the 3rd quarter. Dupont Capital Management Corp now owns 14,023 shares of the apparel retailer’s stock worth $905,000 after buying an additional 11,606 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Ross Stores by 5.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 79,100 shares of the apparel retailer’s stock worth $5,107,000 after buying an additional 4,240 shares during the period. State of Tennessee Treasury Department raised its position in shares of Ross Stores by 41.6% in the 3rd quarter. State of Tennessee Treasury Department now owns 293,375 shares of the apparel retailer’s stock worth $18,943,000 after buying an additional 86,158 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Ross Stores by 18.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,408 shares of the apparel retailer’s stock worth $1,317,000 after buying an additional 3,158 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
About Ross Stores
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.
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.