Burney Co. Has $3.70 Million Stake in Ross Stores, Inc. (NASDAQ:ROST)

Burney Co. increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 27.8% during the second quarter, HoldingsChannel reports. The fund owned 25,457 shares of the apparel retailer’s stock after buying an additional 5,541 shares during the period. Burney Co.’s holdings in Ross Stores were worth $3,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after purchasing an additional 73 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC grew its position in Ross Stores by 4.0% in the second quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock valued at $319,000 after purchasing an additional 85 shares in the last quarter. First Horizon Advisors Inc. grew its position in Ross Stores by 9.8% in the fourth quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock valued at $133,000 after purchasing an additional 86 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its position in Ross Stores by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the apparel retailer’s stock valued at $534,000 after purchasing an additional 86 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Performance

NASDAQ ROST traded up $2.64 during trading on Thursday, reaching $152.54. The company’s stock had a trading volume of 1,006,615 shares, compared to its average volume of 2,238,873. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. Ross Stores, Inc. has a 12 month low of $108.35 and a 12 month high of $163.60. The firm has a 50 day moving average price of $145.57 and a 200 day moving average price of $142.44.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.25 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. As a group, equities analysts anticipate that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ROST shares. Loop Capital raised their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays boosted their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.