Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) Target Price at $263.76

Ross Stores, Inc. (NASDAQ:ROST) has been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $263.7647.

ROST has been the subject of a number of analyst reports. Evercore set a $290.00 price objective on Ross Stores in a research report on Friday, August 21st. Sanford C. Bernstein boosted their price target on shares of Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $270.00 price objective on shares of Ross Stores in a research report on Friday, May 22nd. Zacks Research cut shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Truist Financial increased their target price on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Ross Stores during the 4th quarter worth approximately $26,000. Bard Associates Inc. purchased a new position in shares of Ross Stores in the 4th quarter valued at $31,000. Virtus Advisers LLC acquired a new stake in Ross Stores during the 4th quarter worth $32,000. Fideuram Asset Management Ireland dac acquired a new stake in Ross Stores during the 4th quarter worth $38,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in Ross Stores in the second quarter valued at $41,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

NASDAQ:ROST opened at $236.27 on Monday. Ross Stores has a 52 week low of $143.39 and a 52 week high of $257.00. The company has a fifty day simple moving average of $234.10 and a two-hundred day simple moving average of $223.14. 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 company has a market cap of $75.79 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the business posted $1.56 earnings per share. Ross Stores’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Ross Stores will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed 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 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%.

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.