Mutual of America Capital Management LLC cut its stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,721 shares of the apparel retailer’s stock after selling 1,530 shares during the period. Mutual of America Capital Management LLC’s holdings in Ross Stores were worth $5,390,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Capital Advisors Group LLC. purchased a new position in Ross Stores in the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC acquired a new stake in Ross Stores in the fourth quarter valued at $29,000. Quarry LP purchased a new position in shares of Ross Stores in the first quarter valued at $29,000. Clearstead Advisors LLC increased its position in shares of Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after buying an additional 229 shares in the last quarter. Finally, Steward Financial Group LLC raised its stake in shares of Ross Stores by 164.1% during the 3rd quarter. Steward Financial Group LLC now owns 338 shares of the apparel retailer’s stock worth $38,000 after buying an additional 210 shares during the last quarter. 84.79% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Stock Performance
NASDAQ:ROST opened at $145.87 on Monday. The company has a market cap of $49.11 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.11 and a beta of 1.04. The firm’s 50 day moving average is $137.61 and its two-hundred day moving average is $124.98. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $146.42. The company has a quick ratio of 1.11, a current ratio of 1.70 and a debt-to-equity ratio of 0.48.
Ross Stores Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 5th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, December 4th. Ross Stores’s payout ratio is currently 26.53%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ROST. BMO Capital Markets raised their target price on shares of Ross Stores from $127.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Gordon Haskett raised shares of Ross Stores from an “accumulate” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Friday, November 3rd. Evercore ISI initiated coverage on Ross Stores in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $140.00 target price on the stock. Wells Fargo & Company raised their price target on Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $130.00 price objective on shares of Ross Stores in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $131.05.
Ross Stores Company 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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