Ross Stores (NASDAQ:ROST) Reaches New 12-Month Low – Should You Sell?

Ross Stores, Inc. (NASDAQ:ROST) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $126.70 and last traded at $126.70, with a volume of 3595606 shares trading hands. The stock had previously closed at $128.65.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. BMO Capital Markets dropped their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Ross Stores Trading Down 1.7 %

The firm has a market capitalization of $41.74 billion, a P/E ratio of 19.92, a PEG ratio of 2.13 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $144.53 and a 200 day simple moving average of $147.11.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results 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. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. As a group, research analysts forecast that Ross Stores, Inc. 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. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio is 25.63%.

Hedge Funds Weigh In On Ross Stores

Several institutional investors have recently added to or reduced their stakes in the company. Hahn Capital Management LLC boosted its position in shares of Ross Stores by 40.9% during the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer’s stock valued at $11,203,000 after acquiring an additional 21,500 shares during the last quarter. Sovran Advisors LLC purchased a new position in shares of Ross Stores in the 4th quarter worth $269,000. Oak Ridge Investments LLC increased its holdings in shares of Ross Stores by 10.6% in the 4th 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 last quarter. Oppenheimer & Co. Inc. raised its position in shares of Ross Stores by 22.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer’s stock valued at $431,000 after buying an additional 524 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after acquiring an additional 1,144,774 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.