Alerus Financial NA Has $228,000 Stake in Ross Stores, Inc. (NASDAQ:ROST)

Alerus Financial NA cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 51.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,999 shares of the apparel retailer’s stock after selling 2,103 shares during the quarter. Alerus Financial NA’s holdings in Ross Stores were worth $228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Equitec Proprietary Markets LLC acquired a new stake in Ross Stores during the fourth quarter worth approximately $26,000. Kozak & Associates Inc. acquired a new stake in Ross Stores during the 3rd quarter worth approximately $45,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ross Stores in the 3rd quarter valued at $46,000. MUFG Americas Holdings Corp grew its holdings in Ross Stores by 1,600.0% in the 4th quarter. MUFG Americas Holdings Corp now owns 425 shares of the apparel retailer’s stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in Ross Stores during the 4th quarter worth $70,000. Institutional investors and hedge funds own 87.02% of the company’s stock.

Several equities analysts recently commented on the stock. Loop Capital decreased their price target on shares of Ross Stores from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, May 20th. Truist Financial lowered their target price on shares of Ross Stores from $136.00 to $122.00 in a report on Friday, February 18th. BMO Capital Markets cut their price target on Ross Stores from $116.00 to $99.00 in a research note on Friday, May 20th. OTR Global lowered Ross Stores to a “positive” rating in a research note on Wednesday, May 4th. Finally, Cowen cut their target price on Ross Stores from $109.00 to $103.00 and set a “market perform” rating for the company in a research report on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of “Buy” and an average target price of $100.50.

NASDAQ:ROST traded up $3.28 during mid-day trading on Wednesday, hitting $80.89. 99,972 shares of the company’s stock were exchanged, compared to its average volume of 3,485,613. The company has a 50 day simple moving average of $95.47 and a 200-day simple moving average of $100.48. The firm has a market capitalization of $28.42 billion, a P/E ratio of 17.29, a PEG ratio of 1.84 and a beta of 0.92. Ross Stores, Inc. has a fifty-two week low of $69.75 and a fifty-two week high of $127.58. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60.

Ross Stores (NASDAQ:ROSTGet Rating) last posted its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). Ross Stores had a net margin of 8.46% and a return on equity of 39.79%. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts expect that Ross Stores, Inc. will post 5.04 earnings per share for the current year.

Ross Stores announced that its board has approved a share buyback plan on Tuesday, March 1st that permits the company to repurchase $1.90 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, June 7th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, June 6th. Ross Stores’s dividend payout ratio is presently 27.62%.

About Ross Stores (Get Rating)

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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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