Longboard Asset Management LP Makes New $244,000 Investment in Ross Stores, Inc. (NASDAQ:ROST)

Longboard Asset Management LP acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,612 shares of the apparel retailer’s stock, valued at approximately $244,000. Ross Stores makes up approximately 0.6% of Longboard Asset Management LP’s portfolio, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROST. Resonant Capital Advisors LLC raised its holdings in shares of Ross Stores by 2.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 5,511 shares of the apparel retailer’s stock valued at $834,000 after purchasing an additional 149 shares during the last quarter. Willis Investment Counsel grew its position in Ross Stores by 1.8% in the 4th quarter. Willis Investment Counsel now owns 50,802 shares of the apparel retailer’s stock worth $7,685,000 after purchasing an additional 887 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Ross Stores in the 4th quarter valued at about $8,508,000. Greenleaf Trust lifted its position in shares of Ross Stores by 3.9% during the 4th quarter. Greenleaf Trust now owns 5,433 shares of the apparel retailer’s stock worth $822,000 after buying an additional 205 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Ross Stores by 2.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,737 shares of the apparel retailer’s stock worth $1,473,000 after buying an additional 198 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ROST. Guggenheim reaffirmed a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Evercore ISI boosted their price target on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $169.06.

Ross Stores Trading Down 2.3 %

Shares of NASDAQ ROST opened at $147.07 on Tuesday. The firm’s 50 day moving average price is $151.90 and its 200-day moving average price is $147.93. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The company has a market cap of $48.52 billion, a PE ratio of 23.16, a P/E/G ratio of 2.49 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Ross Stores’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. On average, equities research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

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.