E Fund Management Co. Ltd. Acquires 2,477 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• E Fund Management Co. Ltd. increased its holdings in Ross Stores, Inc. by 36.6%, totaling 9,237 shares worth $1,180,000 as of the last SEC filing.
• Analysts have set a consensus target price of $159.06 for Ross Stores, with ratings ranging from "strong buy" to "hold."
• Ross Stores reported quarterly earnings of $1.47 per share, surpassing estimates and showing a 2.6% year-over-year revenue growth.

E Fund Management Co. Ltd. increased its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 36.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,237 shares of the apparel retailer's stock after purchasing an additional 2,477 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Ross Stores were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Bayforest Capital Ltd boosted its position in Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 190 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares in the last quarter. Putney Financial Group LLC bought a new stake in Ross Stores during the 4th quarter valued at approximately $44,000. Finally, Cary Street Partners Financial LLC bought a new stake in Ross Stores during the 4th quarter valued at approximately $48,000. 86.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Morgan Stanley cut their price objective on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research report on Friday, May 23rd. Barclays cut their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Loop Capital cut their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $150.00 price objective on shares of Ross Stores in a research report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.06.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $150.28 on Thursday. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The firm has a market cap of $49.15 billion, a P/E ratio of 23.74, a PEG ratio of 2.84 and a beta of 1.11. The company has a 50 day moving average of $134.95 and a 200 day moving average of $137.34. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 10th. Ross Stores's payout ratio is presently 25.59%.

Ross Stores Company Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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