Corient Private Wealth LP acquired a new position in Ross Stores, Inc. (NASDAQ:ROST – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 529,109 shares of the apparel retailer’s stock, valued at approximately $27,881,000. Corient Private Wealth LP owned approximately 0.16% of Ross Stores as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Cooper Financial Group grew its stake in shares of Ross Stores by 2.8% in the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after acquiring an additional 52 shares during the period. Independent Advisor Alliance lifted its position in Ross Stores by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after purchasing an additional 55 shares during the period. CYBER HORNET ETFs LLC lifted its position in Ross Stores by 6.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after purchasing an additional 55 shares during the period. MCF Advisors LLC boosted its holdings in Ross Stores by 4.6% in the fourth quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock worth $233,000 after purchasing an additional 57 shares during the last quarter. Finally, Caxton Associates LLP boosted its holdings in Ross Stores by 4.3% in the first quarter. Caxton Associates LLP now owns 1,421 shares of the apparel retailer’s stock worth $308,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ROST shares. JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Morgan Stanley lifted their price objective on Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. Wells Fargo & Company upped their price objective on Ross Stores from $245.00 to $248.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. UBS Group increased their target price on Ross Stores from $232.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Finally, Robert W. Baird raised their target price on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.76.
Ross Stores Stock Down 2.7%
NASDAQ ROST opened at $229.87 on Friday. The stock’s 50-day moving average price is $234.04 and its 200-day moving average price is $223.42. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 52 week low of $143.39 and a 52 week high of $257.00. The company has a market capitalization of $73.74 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.
Ross Stores (NASDAQ:ROST – Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS. On average, equities research analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current year.
Ross Stores Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is 21.55%.
Ross Stores 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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