Proficio Capital Partners LLC Makes New Investment in Ross Stores, Inc. $ROST

Proficio Capital Partners LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,639 shares of the apparel retailer’s stock, valued at approximately $562,000.

Other hedge funds have also recently bought and sold shares of the company. Greenleaf Trust grew its holdings in Ross Stores by 0.9% in the second quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after purchasing an additional 51 shares during the period. Cooper Financial Group raised its stake in Ross Stores by 2.8% during the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after purchasing an additional 52 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Ross Stores by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after purchasing an additional 55 shares during the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Ross Stores by 6.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after buying an additional 55 shares during the period. Finally, MCF Advisors LLC increased its holdings in shares of Ross Stores by 4.6% during the 4th quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock worth $233,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

ROST has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Wells Fargo & Company boosted their target price on Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. Sanford C. Bernstein increased their target price on shares of Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. UBS Group lifted their price target on shares of Ross Stores from $232.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Barclays increased their price objective on shares of Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.76.

Ross Stores Trading Up 0.7%

Ross Stores stock opened at $230.85 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The firm’s 50-day moving average is $233.84 and its 200-day moving average is $224.42. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The company has a market cap of $74.05 billion, a P/E ratio of 27.95, a PEG ratio of 1.93 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the firm earned $1.56 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend payout ratio (DPR) is presently 21.55%.

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.