12,365 Shares in Ross Stores, Inc. $ROST Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, HoldingsChannel.com reports. The fund purchased 12,365 shares of the apparel retailer’s stock, valued at approximately $2,632,000.

A number of other hedge funds also recently made changes to their positions in the stock. Ethic Inc. increased its holdings in Ross Stores by 25.6% in the 4th quarter. Ethic Inc. now owns 23,772 shares of the apparel retailer’s stock valued at $4,282,000 after purchasing an additional 4,847 shares in the last quarter. National Pension Service lifted its stake in shares of Ross Stores by 138.4% during the fourth quarter. National Pension Service now owns 1,300,056 shares of the apparel retailer’s stock worth $234,192,000 after purchasing an additional 754,816 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $204,750,000. NewEdge Wealth LLC raised its holdings in shares of Ross Stores by 99.5% during the 4th quarter. NewEdge Wealth LLC now owns 14,745 shares of the apparel retailer’s stock valued at $2,656,000 after buying an additional 7,353 shares during the period. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Ross Stores by 744.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 211,676 shares of the apparel retailer’s stock valued at $38,131,000 after buying an additional 186,619 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

Ross Stores stock opened at $228.55 on Monday. The firm’s 50-day moving average is $233.95 and its 200-day moving average is $223.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The company 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.

Ross Stores (NASDAQ:ROST) last posted 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 during the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $1.56 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

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 paid a $0.445 dividend. 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 payout ratio is presently 21.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ROST shares. The Goldman Sachs Group restated a “buy” rating and issued a $270.00 price target on shares of Ross Stores in a report on Friday, May 22nd. Telsey Advisory Group lifted their price objective on shares of 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 shares of Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Ross Stores in a research report on Monday, July 6th. Finally, Sanford C. Bernstein upped their target price on shares of Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target 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.