Danske Bank A S acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 174,042 shares of the apparel retailer's stock, valued at approximately $37,045,000. Danske Bank A S owned about 0.05% of Ross Stores at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. 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 Ross Stores during the fourth quarter worth approximately $31,000. Virtus Advisers LLC purchased a new position in Ross Stores during the fourth quarter worth approximately $32,000. Fideuram Asset Management Ireland dac acquired a new position in Ross Stores during the fourth quarter worth $38,000. Finally, Salomon & Ludwin LLC boosted its stake in Ross Stores by 89.0% during the fourth quarter. Salomon & Ludwin LLC now owns 223 shares of the apparel retailer's stock worth $42,000 after buying an additional 105 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.
Ross Stores Stock Down 0.7%
Shares of NASDAQ:ROST opened at $234.69 on Thursday. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.64 and a beta of 0.86. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The business has a 50-day moving average price of $234.03 and a 200 day moving average price of $221.46. The company has a current ratio of 1.54, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.
Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, May 21st. The apparel retailer reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.29. The company had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.64 billion. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. Ross Stores's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 earnings per share. Sell-side analysts expect that Ross Stores, Inc. will post 7.78 EPS for the current year.
Ross Stores Announces Dividend
The business also recently declared 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. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores's payout ratio is 24.86%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Ross Stores in a research note on Tuesday. Zacks Research cut shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $257.00 price objective on shares of Ross Stores in a report on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $248.00 to $251.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company downgraded shares of Ross Stores from an "overweight" rating to an "equal weight" rating and set a $245.00 target price on the stock. in a research note on Tuesday, June 23rd. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $244.76.
Read Our Latest Research Report on ROST
Ross Stores Profile
(
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.
See Also
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