NovaPoint Capital LLC Buys 691 Shares of Ross Stores, Inc. (NASDAQ:ROST)

NovaPoint Capital LLC raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,596 shares of the apparel retailer’s stock after purchasing an additional 691 shares during the quarter. Ross Stores accounts for 1.2% of NovaPoint Capital LLC’s portfolio, making the stock its 29th biggest position. NovaPoint Capital LLC’s holdings in Ross Stores were worth $4,023,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. bought a new stake in Ross Stores in the third quarter valued at approximately $33,000. ORG Partners LLC lifted its position in Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 191 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Ross Stores during the third quarter valued at approximately $53,000. Banque Cantonale Vaudoise purchased a new position in shares of Ross Stores during the third quarter valued at approximately $59,000. Finally, AM Squared Ltd purchased a new position in shares of Ross Stores during the third quarter valued at approximately $60,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST opened at $147.44 on Thursday. The stock has a market cap of $48.64 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.49 and a beta of 1.10. The stock has a 50-day moving average of $151.63 and a two-hundred day moving average of $147.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. Ross Stores, Inc. has a one year low of $127.53 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. Ross Stores’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.3675 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.00%. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their target price on Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. TD Cowen dropped their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $165.00 target price on shares of Ross Stores in a report on Friday, January 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $169.06.

About Ross Stores

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.