Ross Stores (NASDAQ:ROST) Given New $156.00 Price Target at BMO Capital Markets

Ross Stores (NASDAQ:ROST) had its price objective reduced by BMO Capital Markets from $168.00 to $156.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the apparel retailer’s stock.

Several other equities research analysts also recently commented on ROST. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and dropped their target price for the company from $179.00 to $152.00 in a report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on Ross Stores from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday. Guggenheim reiterated a “buy” rating and set a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Robert W. Baird dropped 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. Finally, JPMorgan Chase & Co. lifted their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Eight research 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. Based on data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and a consensus target price of $162.12.

Ross Stores Stock Performance

NASDAQ ROST opened at $138.64 on Wednesday. The firm has a market capitalization of $45.74 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.13 and a beta of 1.10. Ross Stores has a 1-year low of $127.53 and a 1-year high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The business’s 50-day simple moving average is $146.03 and its 200-day simple moving average is $147.64.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. The business 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%. Equities analysts predict that Ross Stores will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 23.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Ross Stores in the 4th quarter valued at about $649,318,000. Price T Rowe Associates Inc. MD boosted its stake in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock valued at $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC boosted its stake in Ross Stores by 8,209.0% during the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after purchasing an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new position in Ross Stores during the 4th quarter valued at about $230,204,000. Finally, Wellington Management Group LLP boosted its stake in Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares during the period. 86.86% of the stock is currently owned by institutional investors.

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.