Independent Advisor Alliance Acquires 2,221 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Independent Advisor Alliance raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 69.5% in the fourth quarter, Holdings Channel reports. The firm owned 5,416 shares of the apparel retailer’s stock after purchasing an additional 2,221 shares during the period. Independent Advisor Alliance’s holdings in Ross Stores were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Ross Stores in the fourth quarter valued at about $31,000. ORG Partners LLC raised its holdings in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares during the period. Kestra Investment Management LLC purchased a new position in Ross Stores in the fourth quarter valued at approximately $51,000. Finally, Oakworth Capital Inc. bought a new position in Ross Stores during the fourth quarter valued at $57,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI lowered their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Telsey Advisory Group dropped their price objective on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. Robert W. Baird dropped their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Barclays set a $150.00 price objective on shares of Ross Stores in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.40.

Ross Stores Trading Up 0.7 %

Shares of Ross Stores stock opened at $124.21 on Friday. The company has a 50 day simple moving average of $142.85 and a two-hundred day simple moving average of $146.55. The firm has a market cap of $40.98 billion, a PE ratio of 19.56, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 1 year low of $122.77 and a 1 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.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

Ross Stores 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.