E Fund Management Co. Ltd. Makes New Investment in Ross Stores, Inc. $ROST

E Fund Management Co. Ltd. bought a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,450 shares of the apparel retailer’s stock, valued at approximately $2,650,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new stake in Ross Stores during the 4th quarter worth $26,000. Bard Associates Inc. acquired a new stake in shares of Ross Stores during the fourth quarter worth $31,000. Virtus Advisers LLC acquired a new position in Ross Stores in the fourth quarter valued at about $32,000. Fideuram Asset Management Ireland dac bought a new position in Ross Stores during the fourth quarter worth about $38,000. Finally, Salomon & Ludwin LLC grew its position in shares of Ross Stores by 89.0% during the 4th quarter. Salomon & Ludwin LLC now owns 223 shares of the apparel retailer’s stock worth $42,000 after buying an additional 105 shares during the period. 86.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ROST shares. Guggenheim reissued a “buy” rating and set a $290.00 price target on shares of Ross Stores in a research report on Monday, April 27th. Evercore reiterated an “outperform” rating and issued a $276.00 price objective on shares of Ross Stores in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Ross Stores in a report on Monday, July 6th. Wells Fargo & Company lowered shares of Ross Stores from an “overweight” rating to an “equal weight” rating and set a $245.00 target price for the company. in a research note on Tuesday, June 23rd. Finally, Citigroup increased their price objective on Ross Stores from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.76.

Ross Stores Trading Down 0.7%

Shares of NASDAQ:ROST opened at $234.69 on Thursday. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The business has a 50 day moving average of $234.03 and a 200-day moving average of $221.46. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The stock has a market cap of $75.28 billion, a PE ratio of 32.78, a P/E/G ratio of 2.64 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.29. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. Ross Stores’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. As a group, equities research analysts forecast that Ross Stores, Inc. will post 7.78 earnings per share for the current year.

Ross Stores Announces Dividend

The company 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 dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is currently 24.86%.

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.