PNC Financial Services Group Inc. Has $48.83 Million Holdings in Ross Stores, Inc. (NASDAQ:ROST)

PNC Financial Services Group Inc. reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 322,809 shares of the apparel retailer’s stock after selling 3,550 shares during the period. PNC Financial Services Group Inc. owned about 0.10% of Ross Stores worth $48,831,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Evergreen Private Wealth LLC increased its position in Ross Stores by 0.6% in the 4th quarter. Evergreen Private Wealth LLC now owns 32,508 shares of the apparel retailer’s stock worth $4,918,000 after purchasing an additional 207 shares during the last quarter. Destination Wealth Management increased its holdings in shares of Ross Stores by 0.8% during the 4th quarter. Destination Wealth Management now owns 113,777 shares of the apparel retailer’s stock valued at $17,211,000 after acquiring an additional 873 shares during the last quarter. Callan Family Office LLC increased its holdings in shares of Ross Stores by 586.4% during the 4th quarter. Callan Family Office LLC now owns 14,724 shares of the apparel retailer’s stock valued at $2,227,000 after acquiring an additional 12,579 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Ross Stores by 86.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 6,760 shares of the apparel retailer’s stock valued at $1,023,000 after acquiring an additional 3,139 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Ross Stores by 5.9% during the 4th quarter. Candriam S.C.A. now owns 19,575 shares of the apparel retailer’s stock valued at $2,961,000 after acquiring an additional 1,096 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $135.96 on Monday. Ross Stores, Inc. has a 1-year low of $127.53 and a 1-year high of $163.60. The firm has a market capitalization of $44.86 billion, a PE ratio of 21.41, a PEG ratio of 2.13 and a beta of 1.15. The business’s 50 day moving average is $145.37 and its 200-day moving average is $147.45. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

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

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.405 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.19%. Ross Stores’s payout ratio is currently 25.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ROST shares. TD Cowen lowered their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Robert W. Baird lowered their price objective on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Telsey Advisory Group lowered their price objective on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, March 5th. UBS Group lowered their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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 to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.