Proficio Capital Partners LLC Purchases New Position in Ross Stores, Inc. $ROST

Proficio Capital Partners LLC purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,639 shares of the apparel retailer’s stock, valued at approximately $562,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at $26,000. Bard Associates Inc. purchased a new position in shares of Ross Stores in the 4th quarter valued at $31,000. Virtus Advisers LLC purchased a new position in shares of Ross Stores in the 4th quarter valued at $32,000. Fideuram Asset Management Ireland dac acquired a new stake in Ross Stores during the 4th quarter worth $38,000. Finally, Bell Investment Advisors Inc acquired a new stake in Ross Stores during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Trading Down 2.7%

Shares of Ross Stores stock opened at $229.87 on Friday. 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 quick ratio of 0.98 and a current ratio of 1.61. The company has a market capitalization of $73.74 billion, a P/E ratio of 27.83, a PEG ratio of 1.98 and a beta of 0.86. The company’s fifty day moving average is $234.04 and its two-hundred day moving average is $223.42.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.16 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup upped their price objective on shares of Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Wall Street Zen downgraded Ross Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Truist Financial upped their target price on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $294.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $270.00 price target on shares of Ross Stores in a research report on Friday, May 22nd. 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, Ross Stores has an average rating of “Moderate Buy” and an average price target of $263.76.

About Ross Stores

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.