Van ECK Associates Corp raised its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 143.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,275 shares of the apparel retailer's stock after acquiring an additional 63,849 shares during the quarter. Van ECK Associates Corp's holdings in Ross Stores were worth $23,046,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in ROST. Hilton Head Capital Partners LLC purchased a new position in shares of Ross Stores in the 4th quarter valued at about $26,000. Bard Associates Inc. purchased a new stake in Ross Stores during the fourth quarter worth about $31,000. Virtus Advisers LLC acquired a new position in Ross Stores during the fourth quarter worth about $32,000. Twin Lakes Capital Management LLC acquired a new position in Ross Stores during the second quarter worth about $41,000. Finally, Bell Investment Advisors Inc purchased a new position in Ross Stores in the second quarter valued at about $43,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ROST has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on shares of Ross Stores from $265.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 21st. Robert W. Baird upped their price target on Ross Stores from $250.00 to $270.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. Telsey Advisory Group raised their price objective on Ross Stores from $265.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Truist Financial lifted their price objective on Ross Stores from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $294.00 target price on shares of Ross Stores in a research report on Friday, August 21st. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Ross Stores has a consensus rating of "Moderate Buy" and a consensus price target of $263.76.
Check Out Our Latest Research Report on Ross Stores
Ross Stores Stock Performance
Shares of ROST opened at $228.55 on Monday. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The stock has a market cap of $73.31 billion, a P/E ratio of 27.67, a PEG ratio of 1.92 and a beta of 0.86. 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 company has a 50-day moving average of $233.95 and a two-hundred day moving average of $223.66.
Ross Stores (NASDAQ:ROST - Get Free Report) last released 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. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the prior year, the business earned $1.56 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts predict 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 issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. Ross Stores's dividend payout ratio is 21.55%.
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.
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