529,109 Shares in Ross Stores, Inc. $ROST Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 529,109 shares of the apparel retailer’s stock, valued at approximately $27,881,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ethic Inc. boosted its holdings in shares of Ross Stores by 25.6% during the 4th quarter. Ethic Inc. now owns 23,772 shares of the apparel retailer’s stock valued at $4,282,000 after purchasing an additional 4,847 shares during the last quarter. National Pension Service grew its position in shares of Ross Stores by 138.4% during the fourth quarter. National Pension Service now owns 1,300,056 shares of the apparel retailer’s stock valued at $234,192,000 after purchasing an additional 754,816 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Ross Stores in the fourth quarter worth about $204,750,000. NewEdge Wealth LLC increased its holdings in shares of Ross Stores by 99.5% in the fourth quarter. NewEdge Wealth LLC now owns 14,745 shares of the apparel retailer’s stock worth $2,656,000 after purchasing an additional 7,353 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of Ross Stores by 744.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 211,676 shares of the apparel retailer’s stock worth $38,131,000 after buying an additional 186,619 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ROST. Truist Financial increased their price target on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 21st. UBS Group lifted their price objective on Ross Stores from $232.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Robert W. Baird upped their price objective on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Sanford C. Bernstein increased their target price on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Finally, Wells Fargo & Company raised their target price on shares of Ross Stores from $245.00 to $248.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $263.76.

Ross Stores Stock Down 2.7%

Shares of NASDAQ ROST opened at $229.87 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The firm’s 50-day moving average price is $234.04 and its 200-day moving average price is $223.42. The stock has a market capitalization of $73.74 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.98 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the business posted $1.56 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is presently 21.55%.

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.