Elevation Point Wealth Partners LLC Acquires 21,431 Shares of Ross Stores, Inc. $ROST

Key Points

• Elevation Point Wealth Partners increased its Ross Stores stake by 459.5% in the first quarter, buying 21,431 additional shares and bringing its total holdings to 26,095 shares worth about $5.65 million.
• Ross Stores reported strong quarterly results, with EPS of $2.02 versus estimates of $1.73 and revenue of $6.01 billion versus expectations of $5.64 billion; revenue rose 20.6% year over year.
• The company also paid a quarterly dividend of $0.445 per share and has received mostly positive analyst coverage, with a consensus rating of Moderate Buy and an average target price of $233.18.

Elevation Point Wealth Partners LLC raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 459.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,095 shares of the apparel retailer's stock after purchasing an additional 21,431 shares during the period. Elevation Point Wealth Partners LLC's holdings in Ross Stores were worth $5,653,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ROST. Woodline Partners LP grew its stake in shares of Ross Stores by 39.9% in the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer's stock worth $3,562,000 after acquiring an additional 7,951 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Ross Stores by 23.5% in 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 last quarter. NewEdge Advisors LLC raised its position in shares of Ross Stores by 35.8% in the 2nd quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer's stock worth $1,350,000 after purchasing an additional 2,792 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Ross Stores by 1.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer's stock worth $19,200,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in 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 purchasing an additional 265 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $213.43 on Friday. Ross Stores, Inc. has a twelve month low of $126.32 and a twelve month high of $242.81. 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 company's 50 day moving average is $225.11 and its 200 day moving average is $209.10. The company has a market cap of $68.46 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, May 21st. The apparel retailer reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.29. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.64 billion. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. The firm's revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. Ross Stores has set its FY 2026 guidance at 7.500-7.740 EPS and its Q2 2026 guidance at 1.850-1.930 EPS. Research analysts anticipate that Ross Stores, Inc. will post 7.74 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. Ross Stores's dividend payout ratio is currently 24.86%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group restated a "neutral" rating on shares of Ross Stores in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $257.00 target price on shares of Ross Stores in a research note on Friday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Ross Stores from $248.00 to $251.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Telsey Advisory Group boosted their price objective on shares of Ross Stores from $240.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 22nd. Finally, Citigroup upped their price objective on Ross Stores from $261.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $233.18.

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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