39,694 Shares in Ross Stores, Inc. $ROST Acquired by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management acquired 39,694 Ross Stores shares worth approximately $8.45 million during the second quarter. Institutional investors and hedge funds collectively own 86.86% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and an average price target of $244.76.
• Ross Stores exceeded quarterly expectations, reporting $2.02 in EPS and $6.01 billion in revenue, while revenue increased 20.6% year over year. The company also declared a quarterly dividend of $0.445 per share, implying a 0.8% yield.

Tocqueville Asset Management L.P. purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 39,694 shares of the apparel retailer's stock, valued at approximately $8,449,000.

Several other hedge funds also recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at $26,000. Bard Associates Inc. bought a new stake in Ross Stores in the fourth quarter worth about $31,000. Virtus Advisers LLC acquired a new stake in Ross Stores in the 4th quarter valued at about $32,000. Bell Investment Advisors Inc acquired a new stake in Ross Stores in the 2nd quarter valued at about $43,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Ross Stores during the 2nd quarter valued at about $44,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROST. Barclays lifted their price objective on shares of Ross Stores from $242.00 to $260.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Evercore restated an "outperform" rating and issued a $276.00 price target on shares of Ross Stores in a research report on Monday. Guggenheim reaffirmed a "buy" rating and issued a $290.00 price target on shares of Ross Stores in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $257.00 price objective on shares of Ross Stores in a research report on Friday, May 22nd. Finally, Zacks Research cut Ross Stores from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and an average price target of $244.76.

Ross Stores Stock Performance

Shares of ROST opened at $234.69 on Thursday. The company has a 50-day moving average of $234.03 and a two-hundred day moving average of $221.46. The stock has a market cap of $75.28 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.64 and a beta of 0.86. 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, Inc. has a one year low of $143.39 and a one year high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.29. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.64 billion. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. The firm's revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 earnings per share. On average, equities research analysts expect that Ross Stores, Inc. will post 7.78 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. Ross Stores's payout ratio is presently 24.86%.

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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