Ross Stores (NASDAQ:ROST) Given New $160.00 Price Target at Robert W. Baird

Ross Stores (NASDAQ:ROST) had its price target trimmed by Robert W. Baird from $175.00 to $160.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.

A number of other analysts have also issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. Sanford C. Bernstein restated a “market perform” rating and set a $165.00 target price (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. TD Cowen cut their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Telsey Advisory Group restated a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research note on Monday, February 24th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $165.00 target price on shares of Ross Stores in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $162.12.

Ross Stores Trading Up 2.0 %

NASDAQ ROST opened at $138.64 on Wednesday. The firm’s 50-day moving average is $146.03 and its two-hundred day moving average is $147.64. Ross Stores has a 12 month low of $127.53 and a 12 month 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 stock has a market capitalization of $45.74 billion, a P/E ratio of 21.83, a PEG ratio of 2.13 and a beta of 1.10.

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

Ross Stores Increases Dividend

The company also recently disclosed 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 an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 23.15%.

Institutional Investors Weigh In On Ross Stores

Several large investors have recently modified their holdings of ROST. Norges Bank acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $649,318,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ross Stores by 25.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after purchasing an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Ross Stores during the fourth quarter worth $230,204,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Ross Stores by 64.0% during the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

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.