SouthState Corp Sells 669 Shares of Ross Stores, Inc. (NASDAQ:ROST)

SouthState Corp reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,994 shares of the apparel retailer’s stock after selling 669 shares during the quarter. SouthState Corp’s holdings in Ross Stores were worth $1,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC increased its stake in Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores in the 4th quarter worth approximately $31,000. ORG Partners LLC increased its position in shares of Ross Stores by 434.1% during the 4th 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. Kestra Investment Management LLC purchased a new stake in Ross Stores during the 4th quarter valued at $51,000. Finally, Oakworth Capital Inc. purchased a new position in Ross Stores during the fourth quarter worth $57,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of ROST stock opened at $125.54 on Tuesday. The firm has a market cap of $41.42 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 52-week low of $122.77 and a 52-week high of $163.60. 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 company’s 50 day moving average is $142.26 and its 200 day moving average is $146.34.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.405 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ROST shares. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 target price (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley reduced 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. Evercore ISI dropped their price objective on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.40.

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.