Nykredit A S purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 176,030 shares of the apparel retailer’s stock, valued at approximately $37,468,000. Nykredit A S owned about 0.05% of Ross Stores at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Ross Stores during the second quarter valued at approximately $5,938,711,000. State Street Corp boosted its holdings 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 buying an additional 99,975 shares during the period. Bank of America Corp DE increased its position in shares of Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock worth $1,222,523,000 after acquiring an additional 1,657,008 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Ross Stores during the second quarter worth $1,937,995,000. Finally, Wellington Management Group LLP raised its holdings in shares of Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after acquiring an additional 3,118,591 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Stock Up 0.4%
NASDAQ:ROST opened at $231.67 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $234.17 and its two-hundred day moving average price is $224.67. Ross Stores, Inc. has a twelve month low of $143.39 and a twelve month high of $257.00. The firm has a market capitalization of $74.01 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85.
Ross Stores Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s payout ratio is 21.55%.
Analyst Ratings Changes
ROST has been the topic of several research reports. Telsey Advisory Group boosted their price objective on shares of Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Jefferies Financial Group increased their target price on Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Wall Street Zen downgraded Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Barclays boosted their price target on Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $294.00 price objective on shares of Ross Stores in a research report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $263.76.
Get Our Latest Stock Report on ROST
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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