12,365 Shares in Ross Stores, Inc. $ROST Acquired by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors acquired 12,365 Ross Stores shares in the second quarter, worth approximately $2.63 million. Institutional investors collectively own 86.86% of ROST.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $263.76.
• Ross Stores reported strong quarterly results, with EPS of $2.66 exceeding estimates by $0.71 and revenue rising 13.3% year over year to $6.26 billion. The company also announced a quarterly dividend of $0.445 per share, representing a 0.8% annualized yield.

Hennessy Advisors Inc. acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,365 shares of the apparel retailer's stock, valued at approximately $2,632,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROST. Hilton Head Capital Partners LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $26,000. Bard Associates Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth $31,000. Virtus Advisers LLC acquired a new position in shares of Ross Stores during the 4th quarter valued at about $32,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Ross Stores during the 4th quarter valued at about $38,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in shares of Ross Stores in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ROST. UBS Group increased their price target on Ross Stores from $232.00 to $239.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Sanford C. Bernstein upped their price objective on Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Friday, August 21st. Morgan Stanley raised their target price on shares of Ross Stores from $231.00 to $234.00 and gave the company an "equal weight" rating in a report on Friday, August 21st. Wall Street Zen cut Ross Stores from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. Finally, Truist Financial boosted their price objective on shares of Ross Stores from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $263.76.

Ross Stores Price Performance

ROST opened at $228.55 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.92 and a beta of 0.86. Ross Stores, Inc. has a one year low of $143.39 and a one year high of $257.00. The business's fifty day moving average is $233.95 and its two-hundred day moving average is $223.66.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.16 billion. During the same period in the prior year, the company earned $1.56 EPS. The firm's revenue was up 13.3% on a year-over-year basis. Analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. 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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