Mechanics Bank Trust Department Boosts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Mechanics Bank Trust Department raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,058 shares of the apparel retailer’s stock after purchasing an additional 1,400 shares during the period. Mechanics Bank Trust Department’s holdings in Ross Stores were worth $5,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversify Wealth Management LLC acquired a new stake in shares of Ross Stores during the fourth quarter worth $238,000. Oak Ridge Investments LLC lifted its position in Ross Stores by 10.6% during the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock worth $17,524,000 after buying an additional 11,060 shares during the period. HB Wealth Management LLC boosted its stake in Ross Stores by 20.2% in the 4th quarter. HB Wealth Management LLC now owns 5,866 shares of the apparel retailer’s stock worth $887,000 after buying an additional 986 shares during the last quarter. Trust Co. of Vermont grew its holdings in Ross Stores by 4,200.0% in the 4th quarter. Trust Co. of Vermont now owns 645 shares of the apparel retailer’s stock valued at $98,000 after buying an additional 630 shares during the period. Finally, Sanibel Captiva Trust Company Inc. grew its holdings in Ross Stores by 21.3% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 3,519 shares of the apparel retailer’s stock valued at $532,000 after buying an additional 617 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Price Performance

ROST opened at $149.15 on Monday. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The firm has a market cap of $49.21 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.51 and a beta of 1.10. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $150.33 and a 200 day simple moving average of $147.80.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the firm earned $1.33 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ROST shares. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Guggenheim reiterated a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a report on Friday, November 22nd. Wells Fargo & Company reissued an “equal weight” rating and set a $165.00 price objective on shares of Ross Stores in a research note on Friday, January 10th. Evercore ISI increased their target price on Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, TD Cowen lowered their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.29.

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.