Corebridge Financial Inc. Decreases Stake in Ross Stores, Inc. $ROST

Key Points

• Corebridge Financial Inc. has reduced its stake in Ross Stores, Inc. by 3.7%, now holding 101,998 shares valued at approximately $13 million.
• Several institutional investors have increased their holdings in Ross Stores, with Vanguard Group boosting its stake by 17%, owning over $4.36 billion worth of shares.
• Ross Stores recently reported earnings of $1.56 per share, slightly beating estimates, and announced a quarterly dividend of $0.405 per share, representing a 1.1% dividend yield.

Corebridge Financial Inc. decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,998 shares of the apparel retailer's stock after selling 3,914 shares during the quarter. Corebridge Financial Inc.'s holdings in Ross Stores were worth $13,034,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ROST. The Manufacturers Life Insurance Company grew its position in Ross Stores by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 270,488 shares of the apparel retailer's stock worth $40,917,000 after acquiring an additional 4,530 shares during the last quarter. Northern Trust Corp grew its position in shares of Ross Stores by 12.1% in the 4th quarter. Northern Trust Corp now owns 3,572,823 shares of the apparel retailer's stock worth $540,461,000 after buying an additional 386,838 shares during the last quarter. Lido Advisors LLC grew its position in shares of Ross Stores by 8.9% in the 4th quarter. Lido Advisors LLC now owns 9,521 shares of the apparel retailer's stock worth $1,440,000 after buying an additional 777 shares during the last quarter. Masterton Capital Management LP grew its position in shares of Ross Stores by 90.8% in the 4th quarter. Masterton Capital Management LP now owns 56,484 shares of the apparel retailer's stock worth $8,544,000 after buying an additional 26,884 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its position in shares of Ross Stores by 6.6% in the 4th quarter. AdvisorShares Investments LLC now owns 3,245 shares of the apparel retailer's stock worth $491,000 after buying an additional 200 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

NASDAQ:ROST traded down $1.89 during mid-day trading on Friday, hitting $147.16. 2,633,607 shares of the company traded hands, compared to its average volume of 3,327,832. The firm has a market cap of $48.13 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The stock's fifty day moving average price is $138.06 and its 200-day moving average price is $137.39. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. Research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. Ross Stores's dividend payout ratio is 25.71%.

Analyst Ratings Changes

ROST has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Loop Capital dropped their price target on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Robert W. Baird lifted their price target on Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Finally, UBS Group lifted their price objective on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.