Moore Capital Management LP Has $1.13 Million Stock Position in Ross Stores, Inc. $ROST

Moore Capital Management LP raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 97.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ROST. Hilton Head Capital Partners LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Ross Stores during the 4th quarter valued at $31,000. Virtus Advisers LLC bought a new stake in shares of Ross Stores during the fourth quarter worth about $32,000. Fideuram Asset Management Ireland dac bought a new stake in Ross Stores during the 4th quarter worth approximately $38,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in Ross Stores in the second quarter valued at $41,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

Shares of ROST opened at $228.54 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $73.31 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.92 and a beta of 0.86. The stock has a 50 day moving average of $233.78 and a 200 day moving average of $223.91. Ross Stores, Inc. has a 12 month low of $143.39 and a 12 month high of $257.00.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The business’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, sell-side 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 dividend of $0.445 per share. The ex-dividend date is Tuesday, September 8th. This represents a $1.78 annualized dividend and a yield of 0.8%. Ross Stores’s dividend payout ratio is presently 21.55%.

Analysts Set New Price Targets

A number of research firms have weighed in on ROST. Jefferies Financial Group increased their target price on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Truist Financial boosted 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. Zacks Research lowered shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Robert W. Baird raised their price objective on shares of Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Finally, Telsey Advisory Group lifted their price objective on shares of Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ross Stores has an average 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.