Proficio Capital Partners LLC Purchases Shares of 2,639 Ross Stores, Inc. $ROST

Proficio Capital Partners LLC acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,639 shares of the apparel retailer’s stock, valued at approximately $562,000.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Ross Stores during the 2nd quarter valued at about $5,938,711,000. Bank of America Corp DE bought a new stake in shares of Ross Stores in the 2nd quarter worth approximately $2,024,203,000. Primecap Management Co. CA acquired a new stake in Ross Stores during the second quarter valued at approximately $1,937,995,000. Norges Bank bought a new stake in Ross Stores during the fourth quarter worth approximately $868,360,000. Finally, Wellington Management Group LLP boosted its holdings in Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after buying an additional 3,118,591 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 0.7%

Ross Stores stock opened at $230.85 on Thursday. The company has a market capitalization of $74.05 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.93 and a beta of 0.86. The firm’s fifty day simple moving average is $233.84 and its 200-day simple moving average is $224.42. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 1-year low of $143.39 and a 1-year high of $257.00.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 10.85% and a return on equity of 39.29%. Ross Stores’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 earnings per share. Sell-side analysts forecast that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 21.55%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ROST shares. Robert W. Baird upped their price target on Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, August 21st. JPMorgan Chase & Co. upped their target price on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $294.00 price target on shares of Ross Stores in a research report on Friday, August 21st. Barclays raised their target price on shares of Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research report on Monday, July 6th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.