Asset Management One Co. Ltd. Buys 5,046 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Posted by Defense World Staff on Jul 11th, 2023

Asset Management One Co. Ltd. raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,055 shares of the apparel retailer’s stock after purchasing an additional 5,046 shares during the period. Asset Management One Co. Ltd.’s holdings in Ross Stores were worth $15,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Ross Stores by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 27,510,301 shares of the apparel retailer’s stock valued at $2,488,582,000 after purchasing an additional 137,952 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ross Stores by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 7,235,856 shares of the apparel retailer’s stock valued at $838,367,000 after purchasing an additional 120,161 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Ross Stores by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 5,318,339 shares of the apparel retailer’s stock valued at $617,300,000 after purchasing an additional 53,842 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ross Stores by 45.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,987,407 shares of the apparel retailer’s stock valued at $578,889,000 after purchasing an additional 1,557,688 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Ross Stores by 84.6% during the 4th quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after purchasing an additional 2,173,922 shares during the last quarter. Institutional investors own 86.89% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $109.58 on Tuesday. The firm has a market cap of $37.48 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99. The firm’s 50 day simple moving average is $105.55 and its 200-day simple moving average is $109.17. Ross Stores, Inc. has a one year low of $73.53 and a one year high of $122.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.27 and a current ratio of 1.86.

Ross Stores (NASDAQ:ROST – Get Free Report) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.48 billion. Ross Stores had a net margin of 8.19% and a return on equity of 36.62%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. As a group, equities analysts predict that Ross Stores, Inc. will post 4.93 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Tuesday, June 6th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, June 5th. Ross Stores’s dividend payout ratio (DPR) is presently 29.71%.

Insider Activity

In other news, CEO Barbara Rentler sold 11,866 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $102.54, for a total transaction of $1,216,739.64. Following the transaction, the chief executive officer now directly owns 325,367 shares in the company, valued at $33,363,132.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ROST shares. UBS Group increased their price objective on shares of Ross Stores from $77.00 to $78.00 in a report on Friday, May 19th. Robert W. Baird decreased their target price on shares of Ross Stores from $130.00 to $125.00 in a research report on Friday, May 19th. VNET Group restated an “initiates” rating on shares of Ross Stores in a research report on Thursday, June 29th. Gordon Haskett cut shares of Ross Stores from a “buy” rating to an “accumulate” rating and set a $120.00 target price on the stock. in a research report on Monday, June 26th. Finally, Piper Sandler assumed coverage on shares of Ross Stores in a research report on Thursday, June 29th. They set a “neutral” rating and a $112.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average target price of $116.89.

Ross Stores Profile

(Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.