Performance Wealth Partners LLC bought a new stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,163 shares of the apparel retailer’s stock, valued at approximately $886,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of ROST. Deutsche Bank AG acquired a new position in shares of Ross Stores during the second quarter worth about $241,920,000. Perigon Wealth Management LLC acquired a new stake in Ross Stores in the second quarter valued at approximately $734,000. Commerzbank Aktiengesellschaft FI purchased a new position in Ross Stores in the second quarter worth approximately $437,000. Trust Co. of Vermont purchased a new position in Ross Stores in the second quarter worth approximately $463,000. Finally, TimesSquare Capital Management LLC acquired a new position in Ross Stores during the 2nd quarter worth approximately $88,587,000. 86.86% of the stock is owned by institutional investors and hedge funds.
Ross Stores Stock Performance
NASDAQ ROST opened at $235.28 on Tuesday. The company has a fifty day moving average of $233.84 and a two-hundred day moving average of $220.77. The company has a market capitalization of $75.47 billion, a PE ratio of 32.86, a P/E/G ratio of 2.74 and a beta of 0.86. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 0.94.
Ross Stores Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.78 annualized dividend and a yield of 0.8%. Ross Stores’s payout ratio is 24.86%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $270.00 price objective on shares of Ross Stores in a research report on Friday, May 22nd. Morgan Stanley set a $231.00 target price on shares of Ross Stores in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $257.00 price target on shares of Ross Stores in a report on Friday, May 22nd. Evercore reiterated an “outperform” rating and issued a $276.00 price objective on shares of Ross Stores in a report on Monday. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $230.00 target price on shares of Ross Stores in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.76.
Check Out Our Latest Analysis on Ross Stores
Ross Stores Company Profile
Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.
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