Tocqueville Asset Management L.P. Makes New Investment in Ross Stores, Inc. $ROST

Tocqueville Asset Management L.P. bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,694 shares of the apparel retailer’s stock, valued at approximately $8,449,000.

A number of other large investors also recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Ross Stores in the fourth quarter worth approximately $26,000. Bard Associates Inc. purchased a new position in Ross Stores during the fourth quarter valued at approximately $31,000. Virtus Advisers LLC acquired a new position in Ross Stores in the 4th quarter valued at approximately $32,000. Fideuram Asset Management Ireland dac acquired a new position in Ross Stores in the 4th quarter valued at approximately $38,000. Finally, Salomon & Ludwin LLC lifted its position in Ross Stores by 89.0% in 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 in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

NASDAQ ROST opened at $234.69 on Thursday. 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 capitalization of $75.28 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.64 and a beta of 0.86. The company has a 50 day moving average price of $234.03 and a two-hundred day moving average price of $221.46. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $2.02 EPS for the quarter, topping the consensus estimate of $1.73 by $0.29. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates 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 prior year, the business posted $1.47 EPS. As a group, equities analysts predict that Ross Stores, Inc. will post 7.78 earnings per share 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. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is 24.86%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ROST. Sanford C. Bernstein reissued a “market perform” rating and set a $230.00 target price on shares of Ross Stores in a research note on Friday, May 22nd. Truist Financial upped their price target on shares of Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Zacks Research lowered Ross Stores from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Telsey Advisory Group lifted their price objective on Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, UBS Group restated a “buy” rating on shares of Ross Stores in a research note on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and a consensus target price of $244.76.

Ross Stores 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.