Beacon Investment Advisory Services Inc. cut its stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,715 shares of the apparel retailer’s stock after selling 7,285 shares during the period. Ross Stores comprises about 1.2% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 27th largest position. Beacon Investment Advisory Services Inc.’s holdings in Ross Stores were worth $31,228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in ROST. Woodline Partners LP raised its stake in shares of Ross Stores by 39.9% during the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock valued at $3,562,000 after acquiring an additional 7,951 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Ross Stores by 23.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock worth $79,000 after purchasing an additional 117 shares during the period. NewEdge Advisors LLC raised its position in Ross Stores by 35.8% during the 2nd quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer’s stock valued at $1,350,000 after purchasing an additional 2,792 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Ross Stores by 1.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer’s stock valued at $19,200,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Ross Stores by 2.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer’s stock worth $1,605,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.
Ross Stores Trading Up 0.4%
NASDAQ:ROST opened at $255.23 on Friday. Ross Stores, Inc. has a 52 week low of $143.39 and a 52 week high of $257.00. The firm has a 50 day moving average of $231.66 and a 200 day moving average of $218.12. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $81.87 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.85 and a beta of 0.86.
Ross Stores Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.445 per share. The ex-dividend date was Tuesday, June 9th. This represents a $1.78 annualized dividend and a dividend yield of 0.7%. Ross Stores’s dividend payout ratio is 24.86%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. UBS Group restated a “neutral” rating on shares of Ross Stores in a research note on Wednesday, June 10th. Barclays increased their target price on shares of Ross Stores from $242.00 to $260.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wells Fargo & Company downgraded shares of Ross Stores from an “overweight” rating to an “equal weight” rating and set a $245.00 target price on the stock. in a research report on Tuesday, June 23rd. Morgan Stanley set a $231.00 price target on shares of Ross Stores in a research report on Wednesday. Finally, Truist Financial increased their price objective on shares of Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $239.12.
View Our Latest Research Report on Ross Stores
About Ross Stores
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.
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