Madison Asset Management LLC Takes Position in Ross Stores, Inc. $ROST

Madison Asset Management LLC acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 886,641 shares of the apparel retailer's stock, valued at approximately $188,722,000. Ross Stores comprises about 2.3% of Madison Asset Management LLC's holdings, making the stock its 4th largest holding. Madison Asset Management LLC owned 0.28% of Ross Stores at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROST. Johnson Financial Group Inc. bought a new position in Ross Stores in the second quarter worth about $62,000. Tocqueville Asset Management L.P. bought a new position in shares of Ross Stores during the second quarter valued at approximately $8,449,000. West Family Investments Inc. acquired a new stake in shares of Ross Stores during the 2nd quarter worth approximately $765,000. NewEdge Wealth LLC acquired a new stake in shares of Ross Stores during the 2nd quarter worth approximately $3,047,000. Finally, Flossbach Von Storch SE bought a new stake in shares of Ross Stores in the 2nd quarter worth approximately $11,790,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted 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. Wall Street Zen lowered Ross Stores from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ross Stores in a research note on Monday, July 6th. Barclays boosted their price target on shares of Ross Stores from $242.00 to $260.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Guggenheim restated a "buy" rating and set a $290.00 price target on shares of Ross Stores in a research report on Monday, April 27th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.76.

Ross Stores Stock Down 0.7%

Shares of Ross Stores stock opened at $234.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 0.94. Ross Stores, Inc. has a 1-year low of $143.39 and a 1-year high of $257.00. The business's fifty day moving average price is $234.03 and its two-hundred day moving average price is $221.46. The company has a market capitalization of $75.28 billion, a P/E ratio of 32.78, a PEG ratio of 2.64 and a beta of 0.86.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.29. The company had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.64 billion. Ross Stores had a return on equity of 38.42% and a net margin of 9.74%.The company's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 earnings per share. As a group, research analysts forecast that Ross Stores, Inc. will post 7.78 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 annualized dividend and a yield of 0.8%. Ross Stores's dividend payout ratio is presently 24.86%.

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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