Moore Capital Management LP Purchases 2,624 Shares of Ross Stores, Inc. $ROST

Moore Capital Management LP increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 97.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,307 shares of the apparel retailer’s stock after purchasing an additional 2,624 shares during the period. Moore Capital Management LP’s holdings in Ross Stores were worth $1,130,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROST. Hilton Head Capital Partners LLC bought a new position in Ross Stores during the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new position in shares of Ross Stores in the fourth quarter worth about $31,000. Virtus Advisers LLC bought a new stake in shares of Ross Stores in the fourth quarter valued at approximately $32,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Ross Stores in the fourth quarter valued at approximately $38,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in shares of Ross Stores during the 2nd quarter valued at approximately $41,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $228.54 on Tuesday. The firm has a market capitalization of $73.31 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.92 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $233.78 and its two-hundred day simple moving average is $223.91. Ross Stores, Inc. has a twelve month low of $143.39 and a twelve month high of $257.00.

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 the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.Ross Stores’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.56 earnings per share. As a group, equities analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is presently 21.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ROST. Wall Street Zen downgraded shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. UBS Group increased their target price on Ross Stores from $232.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Morgan Stanley raised their price target on Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. JPMorgan Chase & Co. lifted their price target on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. Finally, Sanford C. Bernstein boosted their price objective on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.