Fenimore Asset Management Inc Reduces Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Fenimore Asset Management Inc trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,611,370 shares of the apparel retailer’s stock after selling 5,286 shares during the period. Ross Stores comprises 5.1% of Fenimore Asset Management Inc’s investment portfolio, making the stock its biggest position. Fenimore Asset Management Inc owned approximately 0.49% of Ross Stores worth $243,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ross Stores in the 2nd quarter worth approximately $27,000. Armstrong Advisory Group Inc. purchased a new position in Ross Stores in the third quarter worth $33,000. ORG Partners LLC boosted 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 worth $36,000 after purchasing an additional 191 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Ross Stores in the 3rd quarter valued at $53,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Ross Stores during the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $149.28 on Friday. The firm has a 50 day moving average of $151.12 and a 200-day moving average of $147.92. 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, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The firm has a market capitalization of $49.25 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. As a group, sell-side analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Analysts Set New Price Targets

ROST has been the topic of a number of research analyst reports. Guggenheim reissued 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 reiterated an “equal weight” rating and issued a $165.00 target price on shares of Ross Stores in a research note on Friday, January 10th. TD Cowen reduced their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their price objective on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $169.06.

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.