Equitable Holdings Inc. Acquires New Position in Ross Stores, Inc. $ROST

Equitable Holdings Inc. bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,809 shares of the apparel retailer’s stock, valued at approximately $598,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new position in Ross Stores in the 4th quarter valued at approximately $26,000. Bard Associates Inc. purchased a new stake in shares of Ross Stores during the fourth quarter worth $31,000. Virtus Advisers LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at $32,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ross Stores in the fourth quarter valued at $38,000. Finally, Bell Investment Advisors Inc purchased a new position in Ross Stores in the second quarter valued at $43,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROST has been the subject of a number of analyst reports. Telsey Advisory Group boosted their price objective on Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a report on Monday, July 6th. Truist Financial lifted their price target on shares of Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Jefferies Financial Group boosted their price target on shares of Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Finally, Evercore set a $290.00 price objective 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

Ross Stores Stock Down 0.6%

Shares of NASDAQ ROST opened at $228.55 on Friday. The business has a 50-day moving average of $233.95 and a two-hundred day moving average of $223.45. The company has a market capitalization of $73.31 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98.

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

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s dividend payout ratio is presently 21.55%.

Ross Stores Company 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.