Bank of Nova Scotia Takes $59.29 Million Position in Ross Stores, Inc. $ROST

Key Points

• Bank of Nova Scotia acquired 278,536 Ross Stores shares worth approximately $59.3 million, representing about 0.09% of the company; institutional investors collectively own 86.86% of the stock.
• Ross Stores reported strong second-quarter results, with EPS of $2.66 versus the $1.95 consensus and revenue up 13.3% year over year to $6.26 billion. Management also raised fiscal 2026 EPS guidance to $8.61–$8.77 and increased its store-opening plan to 115 locations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $263.76, though some caution that the stock’s premium valuation and one-time $253 million tariff refund could limit upside.

Bank of Nova Scotia bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 278,536 shares of the apparel retailer's stock, valued at approximately $59,287,000. Bank of Nova Scotia owned about 0.09% of Ross Stores at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in Ross Stores during the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $31,000. Virtus Advisers LLC bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $38,000. Bell Investment Advisors Inc bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $43,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the 2nd quarter worth approximately $44,000. 86.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Ross Stores from $265.00 to $285.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ross Stores in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial upped their price objective on shares of Ross Stores from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Friday. Finally, Zacks Research lowered shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $263.76.

Ross Stores News Summary

Here are the key news stories impacting Ross Stores this week:

• Positive Sentiment: Q2 results exceeded expectations: Ross reported diluted EPS of $2.66 versus the approximately $1.95 consensus estimate, while revenue rose 13.3% year over year to $6.26 billion, ahead of the $6.16 billion forecast. Comparable-store sales increased 10%, supported by stronger customer traffic, improved merchandising and higher margins. Ross Stores Q2 Earnings Top Estimates on Strong Sales Growth Momentum
• Positive Sentiment: Higher outlook signals continued momentum: Management raised fiscal 2026 EPS guidance to $8.61-$8.77, well above the prior outlook and the roughly $7.31 analyst consensus. Third- and fourth-quarter EPS guidance also came in above expectations. The company cited resilient demand for discounted apparel and accessories and raised its fiscal-year store-opening plan to 115 locations. Ross Stores raises annual profit forecast again on discounted apparel demand
• Positive Sentiment: Analysts raised price targets: JPMorgan increased its target to $272 and maintained an Overweight rating, while Robert W. Baird raised its target to $270 and kept an Outperform rating. These revisions reinforce expectations that Ross is gaining market share from rivals. Analysts Boost Forecasts on Ross Stores
• Neutral Sentiment: Approximately $253 million of tariff refunds benefited second-quarter operating income, creating a potential comparison headwind when assessing underlying profitability. Ross Stores Q2 Sales Rise 13% as Diluted EPS Reaches $2.66
• Negative Sentiment: BTIG analyst Robert Drbul reiterated a Hold rating, indicating that strong execution may already be reflected in ROST’s premium valuation. Recent insider activity also showed sales but no purchases, a modest sentiment caution. Analyst Reiterates Hold on Ross Stores

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $239.04 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock's fifty day simple moving average is $233.81 and its two-hundred day simple moving average is $221.86. Ross Stores, Inc. has a 1-year low of $143.39 and a 1-year high of $257.00. The stock has a market cap of $76.68 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 40.28%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The business's revenue was up 13.3% compared to the same quarter last year. As a group, analysts forecast that Ross Stores, Inc. will post 8.13 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 8th. Ross Stores's dividend payout ratio (DPR) is 21.55%.

Ross Stores Company 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.

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