State of Michigan Retirement System Reduces Holdings in Ross Stores, Inc. (NASDAQ:ROST)

State of Michigan Retirement System reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 91,856 shares of the apparel retailer’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Ross Stores were worth $13,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have recently modified their holdings of ROST. EverSource Wealth Advisors LLC grew its position in shares of Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after purchasing an additional 73 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 74 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Ross Stores by 4.0% in the second quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock valued at $319,000 after purchasing an additional 85 shares during the period. First Horizon Advisors Inc. grew its position in shares of Ross Stores by 9.8% in the fourth quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock worth $133,000 after buying an additional 86 shares during the last quarter. Finally, Mission Wealth Management LP boosted its stake in Ross Stores by 2.1% in the fourth quarter. Mission Wealth Management LP now owns 4,236 shares of the apparel retailer’s stock worth $586,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 86.86% of the company’s shares.

Analyst upgrades and downgrades

ROST has been the subject of a number of research analyst reports. Robert W. Baird upped their target price on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America boosted their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, TD Cowen boosted their price target on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $169.71, based on data from MarketBeat.com.

Check out our latest report on Ross stores

Price performance of Ross stores

NASDAQ ROST opened at $153.52 on Tuesday. The company’s fifty day moving average is $145.47 and its 200 day moving average is $142.38. Ross Stores, Inc. it has a fifty-two week low of $108.35 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03, and a current ratio of 1.54. The company has a market cap of $51.21 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08.

Ross Stores (NASDAQ:ROST – Get Your Free Report ) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. In the same period last year, the company earned $1.32 per share. Sell-side analysts predict that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10. This represents an annualized dividend of $1.47 and a yield of 0.96%. Ross Stores’ dividend payout ratio (DPR) is currently 24.79%.

About Ross stores

(Free Report)

Ross Stores, Inc, together with its subsidiaries, operates discount clothing and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brands in the United States. Its stores mainly offer clothing, accessories, footwear and home fashion. The company’s Ross Dress for Less stores sell their products in department and specialty stores for middle-income households; and dd’s DISCOUNTS stores sell their products at department and discount stores for moderate income households.

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