Jefferies Financial Group Inc. Makes New Investment in Ross Stores, Inc. $ROST

Key Points

• Jefferies Financial Group initiated a Ross Stores position by purchasing 272,995 shares worth approximately $58.1 million, representing about 0.09% of the retailer. Institutional investors collectively own 86.86% of ROST.
• Ross Stores exceeded quarterly expectations, reporting $2.66 EPS versus the $1.95 consensus and $6.26 billion in revenue, up 13.3% year over year.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $263.76; Ross also declared a quarterly dividend of $0.445 per share.

Jefferies Financial Group Inc. bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 272,995 shares of the apparel retailer's stock, valued at approximately $58,107,000. Jefferies Financial Group Inc. owned approximately 0.09% of Ross Stores at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ROST. Cooper Financial Group boosted its position in Ross Stores by 2.8% in the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer's stock valued at $409,000 after buying an additional 52 shares during the last quarter. Independent Advisor Alliance increased its position in shares of Ross Stores by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer's stock worth $596,000 after acquiring an additional 55 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in shares of Ross Stores by 6.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer's stock worth $172,000 after acquiring an additional 55 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Ross Stores by 4.6% in the fourth quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer's stock worth $233,000 after acquiring an additional 57 shares in the last quarter. Finally, Caxton Associates LLP lifted its stake in shares of Ross Stores by 4.3% in the first quarter. Caxton Associates LLP now owns 1,421 shares of the apparel retailer's stock worth $308,000 after acquiring an additional 58 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Down 2.7%

NASDAQ:ROST opened at $229.87 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $234.04 and a 200-day moving average of $223.42. The firm has a market capitalization of $73.74 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. Ross Stores, Inc. has a 52 week low of $143.39 and a 52 week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The business's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. Analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.445 per share. The ex-dividend date is Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores's dividend payout ratio is currently 21.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their price objective on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Ross Stores from $262.00 to $272.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $270.00 price target on shares of Ross Stores in a report on Friday, May 22nd. Sanford C. Bernstein raised their price objective on shares of Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Friday, August 21st. Finally, Barclays upped their target price on shares of Ross Stores from $260.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday, August 21st. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $263.76.

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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