SG Americas Securities LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 398.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873,589 shares of the apparel retailer’s stock after acquiring an additional 698,377 shares during the quarter. SG Americas Securities LLC’s holdings in Ross Stores were worth $189,246,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of ROST. State Street Corp boosted its stake in shares of Ross Stores by 0.7% in the fourth quarter. State Street Corp now owns 13,911,953 shares of the apparel retailer’s stock valued at $2,506,099,000 after purchasing an additional 99,975 shares during the period. Bank of America Corp DE increased its stake in Ross Stores by 1.9% during the 3rd quarter. Bank of America Corp DE now owns 9,762,583 shares of the apparel retailer’s stock worth $1,487,720,000 after buying an additional 180,182 shares during the period. Morgan Stanley lifted its holdings in Ross Stores by 1.5% during the 4th quarter. Morgan Stanley now owns 5,436,788 shares of the apparel retailer’s stock worth $979,384,000 after buying an additional 79,519 shares in the last quarter. Norges Bank acquired a new stake in Ross Stores during the 4th quarter worth approximately $868,360,000. Finally, Viking Global Investors LP boosted its position in Ross Stores by 9.9% in the 2nd quarter. Viking Global Investors LP now owns 4,747,639 shares of the apparel retailer’s stock valued at $605,704,000 after buying an additional 426,370 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores Stock Performance
NASDAQ ROST opened at $232.80 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 52 week low of $124.49 and a 52 week high of $242.81. The stock has a market capitalization of $74.68 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.61 and a beta of 0.86. The firm has a 50 day moving average of $226.33 and a two-hundred day moving average of $206.55.
Ross Stores Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 9th. Ross Stores’s dividend payout ratio is 24.86%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research note on Wednesday, April 8th. Citigroup increased their price objective on Ross Stores from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $257.00 target price on shares of Ross Stores in a report on Friday, May 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $270.00 target price on shares of Ross Stores in a research note on Friday, May 22nd. Finally, Wells Fargo & Company upped their price target on Ross Stores from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average price target of $233.18.
Get Our Latest Report on Ross Stores
Insiders Place Their Bets
In other Ross Stores news, COO Michael J. Hartshorn sold 15,813 shares of Ross Stores stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the completion of the sale, the chief operating officer directly owned 116,028 shares of the company’s stock, valued at $24,935,577.48. The trade was a 11.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Karen Sykes sold 5,506 shares of Ross Stores stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $213.40, for a total value of $1,174,980.40. Following the sale, the chief marketing officer directly owned 104,648 shares of the company’s stock, valued at $22,331,883.20. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is owned by company insiders.
Ross Stores 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.
Featured Stories
- Five stocks we like better than Ross Stores
- 3 Inflation-Fighting Stocks Built for Higher Oil Prices
- 3 Biotech Firms With Major Potential Catalysts in the Coming Months
- Applied Materials Stock Looks Pricey—Can AI Demand Justify the Rally?
- 3 Small-Cap Stocks Getting a Russell 2000 Rebalance Boost
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST – Free Report).
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.
