Flossbach Von Storch SE Invests $11.79 Million in Ross Stores, Inc. $ROST

Flossbach Von Storch SE purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 2nd quarter, Holdings Channel reports. The fund purchased 55,389 shares of the apparel retailer’s stock, valued at approximately $11,790,000.

A number of other institutional investors have also recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new stake in Ross Stores in the fourth quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $31,000. Virtus Advisers LLC purchased a new stake in Ross Stores during the fourth quarter worth about $32,000. Fideuram Asset Management Ireland dac purchased a new stake in Ross Stores during the fourth quarter worth about $38,000. Finally, Salomon & Ludwin LLC grew its position in Ross Stores by 89.0% during the fourth quarter. Salomon & Ludwin LLC now owns 223 shares of the apparel retailer’s stock worth $42,000 after buying an additional 105 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $270.00 target price on shares of Ross Stores in a report on Friday, May 22nd. Morgan Stanley set a $231.00 price objective on shares of Ross Stores in a research report on Wednesday, August 5th. Guggenheim reissued a “buy” rating and issued a $290.00 price objective on shares of Ross Stores in a research note on Monday, April 27th. Wells Fargo & Company downgraded shares of Ross Stores from an “overweight” rating to an “equal weight” rating and set a $245.00 target price for the company. in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ross Stores from $248.00 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Sixteen investment analysts have rated the stock with a Buy rating and five 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 target price of $244.76.

Ross Stores Trading Down 0.7%

Ross Stores stock opened at $234.69 on Thursday. The stock has a 50-day moving average price of $234.03 and a 200 day moving average price of $221.46. Ross Stores, Inc. has a 52 week low of $143.39 and a 52 week high of $257.00. The stock has a market cap of $75.28 billion, a PE ratio of 32.78, a P/E/G ratio of 2.64 and a beta of 0.86. The company has a current ratio of 1.54, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.29. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the firm earned $1.47 EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. Equities research analysts predict that Ross Stores, Inc. will post 7.78 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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 given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s payout ratio is currently 24.86%.

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.