Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by UBS Group AG

Posted by Defense World Staff on May 15th, 2023

UBS Group AG grew its stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 312.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 396,873 shares of the apparel retailer’s stock after purchasing an additional 300,743 shares during the period. UBS Group AG owned about 0.12% of Ross Stores worth $46,065,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Ross Stores by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 27,845,099 shares of the apparel retailer’s stock valued at $2,346,507,000 after purchasing an additional 227,166 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ross Stores by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,071,302 shares of the apparel retailer’s stock worth $258,818,000 after buying an additional 62,866 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ross Stores by 14.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,046,157 shares of the apparel retailer’s stock worth $213,932,000 after buying an additional 379,166 shares in the last quarter. Marshfield Associates raised its holdings in shares of Ross Stores by 10.3% in the 3rd quarter. Marshfield Associates now owns 3,025,503 shares of the apparel retailer’s stock worth $254,959,000 after buying an additional 282,623 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Ross Stores by 8.6% during the 1st quarter. Invesco Ltd. now owns 2,705,700 shares of the apparel retailer’s stock valued at $244,759,000 after purchasing an additional 214,793 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group lowered Ross Stores from a “neutral” rating to a “sell” rating in a research report on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Ross Stores from $121.00 to $120.00 in a research report on Wednesday, March 1st. Citigroup lifted their target price on Ross Stores from $116.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. JPMorgan Chase & Co. boosted their price target on Ross Stores from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, April 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $123.00 price objective on shares of Ross Stores in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $104.51 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.90. The company has a market cap of $35.75 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.02 and a beta of 0.97. The firm’s fifty day moving average is $104.68 and its two-hundred day moving average is $109.61. Ross Stores, Inc. has a 52-week low of $69.24 and a 52-week high of $122.44.

Ross Stores (NASDAQ:ROST – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The apparel retailer reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. Ross Stores had a net margin of 8.09% and a return on equity of 36.40%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that Ross Stores, Inc. will post 4.94 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Tuesday, March 14th were paid a dividend of $0.335 per share. The ex-dividend date was Monday, March 13th. This is a boost from Ross Stores’s previous quarterly dividend of $0.31. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.28%. Ross Stores’s payout ratio is currently 30.52%.

Insider Buying and Selling

In related news, insider Michael K. Kobayashi sold 12,221 shares of Ross Stores stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $106.00, for a total transaction of $1,295,426.00. Following the completion of the transaction, the insider now directly owns 96,486 shares of the company’s stock, valued at approximately $10,227,516. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael K. Kobayashi sold 12,221 shares of the business’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $106.00, for a total value of $1,295,426.00. Following the completion of the sale, the insider now owns 96,486 shares in the company, valued at approximately $10,227,516. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeffrey P. Burrill sold 3,297 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now owns 23,148 shares of the company’s stock, valued at approximately $2,424,290.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,047 shares of company stock valued at $3,947,565. Company insiders own 1.90% of the company’s stock.

About Ross Stores

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Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.