DnB Asset Management AS lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 1.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 107,275 shares of the apparel retailer’s stock after selling 1,033 shares during the quarter. DnB Asset Management AS’s holdings in Ross Stores were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Ross Stores by 3.8% during the first quarter. BlackRock Inc. now owns 28,971,315 shares of the apparel retailer’s stock worth $2,620,746,000 after buying an additional 1,063,712 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ross Stores by 0.5% in the first 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. State Street Corp grew its position in shares of Ross Stores by 5.1% in the fourth quarter. State Street Corp now owns 17,026,336 shares of the apparel retailer’s stock valued at $1,945,770,000 after purchasing an additional 827,119 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Ross Stores by 0.5% in the first quarter. Primecap Management Co. CA now owns 11,344,159 shares of the apparel retailer’s stock valued at $1,026,193,000 after purchasing an additional 57,260 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Ross Stores by 34.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,597,230 shares of the apparel retailer’s stock valued at $596,785,000 after purchasing an additional 1,701,931 shares during the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently commented on ROST. Loop Capital upped their target price on Ross Stores from $80.00 to $85.00 in a research report on Friday, August 19th. JPMorgan Chase & Co. upped their target price on Ross Stores from $98.00 to $112.00 in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a research report on Friday, August 19th. Wells Fargo & Company increased their price target on Ross Stores from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Finally, Credit Suisse Group increased their price target on Ross Stores from $92.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.22.
Ross Stores Stock Performance
Ross Stores (NASDAQ:ROST – Get Rating) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.08. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.62 billion. Ross Stores had a return on equity of 36.36% and a net margin of 7.97%. Ross Stores’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. Sell-side analysts expect that Ross Stores, Inc. will post 3.99 EPS for the current year.
Ross Stores Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 6th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.37%. Ross Stores’s payout ratio is 29.45%.
About Ross Stores
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. 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.
- Get a free copy of the StockNews.com research report on Ross Stores (ROST)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.