Harvest Fund Management Co. Ltd Acquires 2,928 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Harvest Fund Management Co. Ltd grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,555 shares of the apparel retailer’s stock after buying an additional 2,928 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Ross Stores were worth $2,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ROST. Larson Financial Group LLC grew its stake in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in Ross Stores in the fourth quarter worth approximately $31,000. ORG Partners LLC grew its stake 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 in the last quarter. Kestra Investment Management LLC bought a new position in Ross Stores in the fourth quarter worth approximately $51,000. Finally, Oakworth Capital Inc. bought a new position in Ross Stores in the fourth quarter worth approximately $57,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST opened at $123.71 on Wednesday. Ross Stores, Inc. has a 12 month low of $122.77 and a 12 month high of $163.60. The stock has a fifty day moving average price of $141.70 and a 200-day moving average price of $146.15. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a market cap of $40.82 billion, a PE ratio of 19.48, a P/E/G ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating 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 firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share 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. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a yield of 1.31%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is currently 25.63%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROST. BMO Capital Markets dropped their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Guggenheim reissued a “buy” rating and issued a $180.00 price objective on shares of Ross Stores in a research note on Friday, November 22nd. Barclays set a $150.00 price objective on Ross Stores in a research note on Wednesday, March 5th. Telsey Advisory Group lowered their target price on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday, March 5th. Finally, Loop Capital lowered their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.40.

Ross Stores Company 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.