Beacon Pointe Advisors LLC bought a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,644 shares of the apparel retailer's stock, valued at approximately $1,202,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Ross Stores during the second quarter valued at approximately $5,938,711,000. State Street Corp increased its stake in shares of Ross Stores by 0.7% during the fourth quarter. State Street Corp now owns 13,911,953 shares of the apparel retailer's stock worth $2,506,099,000 after purchasing an additional 99,975 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer's stock worth $1,222,523,000 after purchasing an additional 1,657,008 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Ross Stores during the 2nd quarter worth about $1,937,995,000. Finally, Morgan Stanley lifted its stake in Ross Stores by 1.5% in the 4th quarter. Morgan Stanley now owns 5,436,788 shares of the apparel retailer's stock valued at $979,384,000 after buying an additional 79,519 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.
Ross Stores Price Performance
Shares of ROST stock opened at $228.55 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The company has a market capitalization of $73.31 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The firm's 50-day moving average is $233.95 and its two-hundred day moving average is $223.66. Ross Stores, Inc. has a 12 month low of $143.39 and a 12 month high of $257.00.
Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. Analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current year.
Ross Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.445 per share. The ex-dividend date is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. Ross Stores's dividend payout ratio is 21.55%.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $262.00 to $272.00 and gave the stock an "overweight" rating in a research note on Friday, August 21st. Evercore set a $290.00 target price on Ross Stores in a research report on Friday, August 21st. Sanford C. Bernstein lifted their price target on Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Friday, August 21st. Barclays boosted their price target on Ross Stores from $260.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Finally, Truist Financial raised their price objective on Ross Stores from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $263.76.
Check Out Our Latest Stock Report on Ross Stores
About Ross Stores
(
Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Ross Stores, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ross Stores wasn't on the list.
While Ross Stores currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
