West Family Investments Inc. Invests $765,000 in Ross Stores, Inc. $ROST

West Family Investments Inc. acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,592 shares of the apparel retailer’s stock, valued at approximately $765,000.

Other institutional investors have also modified their holdings of the company. Ethic Inc. raised its stake in shares of 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 acquiring an additional 4,847 shares during the period. National Pension Service lifted its holdings in shares of Ross Stores by 138.4% during the 4th quarter. National Pension Service now owns 1,300,056 shares of the apparel retailer’s stock valued at $234,192,000 after acquiring an additional 754,816 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Ross Stores during the 4th quarter worth $204,750,000. NewEdge Wealth LLC boosted its position in Ross Stores by 99.5% during the 4th quarter. NewEdge Wealth LLC now owns 14,745 shares of the apparel retailer’s stock worth $2,656,000 after purchasing an additional 7,353 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in Ross Stores by 744.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 211,676 shares of the apparel retailer’s stock worth $38,131,000 after purchasing an additional 186,619 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Down 0.6%

Ross Stores stock traded down $1.38 during midday trading on Tuesday, hitting $229.31. 2,607,637 shares of the stock were exchanged, compared to its average volume of 2,731,293. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The firm has a market cap of $73.25 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The company has a 50 day moving average price of $235.28 and a two-hundred day moving average price of $225.34.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. 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 posted $1.56 EPS. On average, sell-side analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

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

Analyst Upgrades and Downgrades

ROST has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Ross Stores in a research report on Monday, July 6th. Jefferies Financial Group increased their target price on Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Sanford C. Bernstein raised their target price on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Truist Financial boosted their price target on Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, Evercore set a $290.00 price target on Ross Stores in a report on Friday, August 21st. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

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.