Tidal Investments LLC Purchases 8,673 Shares of Ross Stores, Inc. $ROST

Key Points

• Tidal Investments increased its Ross Stores position by 14.2% in the second quarter, purchasing 8,673 additional shares for a total holding worth approximately $14.8 million. Institutional investors collectively own 86.86% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and six Holds giving Ross Stores a consensus “Moderate Buy” rating and an average price target of $263.76.
• Ross Stores reported strong quarterly results, including $2.66 in EPS versus the $1.95 estimate and $6.26 billion in revenue, up 13.3% year over year. The company also declared a quarterly dividend of $0.445 per share, representing a 0.8% annualized yield.

Tidal Investments LLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,580 shares of the apparel retailer's stock after buying an additional 8,673 shares during the period. Tidal Investments LLC's holdings in Ross Stores were worth $14,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Ross Stores in the fourth quarter valued at about $26,000. Bard Associates Inc. acquired a new stake in Ross Stores in the 4th quarter worth about $31,000. Virtus Advisers LLC bought a new stake in Ross Stores in the 4th quarter valued at about $32,000. Fideuram Asset Management Ireland dac bought a new stake in Ross Stores in the 4th quarter valued at about $38,000. Finally, Twin Lakes Capital Management LLC acquired a new position in shares of Ross Stores during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $294.00 price target on shares of Ross Stores in a research report on Friday, August 21st. Robert W. Baird boosted their price target on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, August 21st. Morgan Stanley increased their price objective on shares of Ross Stores from $231.00 to $234.00 and gave the stock an "equal weight" rating in a research note on Friday, August 21st. Finally, Citigroup raised their target price on shares of Ross Stores from $270.00 to $290.00 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $263.76.

Ross Stores Stock Performance

NASDAQ:ROST opened at $225.48 on Friday. The stock's 50-day simple moving average is $235.79 and its 200 day simple moving average is $225.69. The firm has a market capitalization of $72.03 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a twelve month low of $143.39 and a twelve month high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the firm earned $1.56 earnings per share. The business's quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a $0.445 dividend. 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 (DPR) is currently 21.55%.

About Ross Stores

Ross Stores, Inc NASDAQ: ROST is an off-price retailer that operates Ross Dress for Less and dd's DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.

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