Meiji Yasuda Asset Management Co Ltd. Buys Shares of 17,574 Ross Stores, Inc. $ROST

Key Points

• Meiji Yasuda Asset Management bought 17,574 Ross Stores shares valued at approximately $3.74 million, while institutional investors collectively own 86.86% of the company.
• Ross Stores exceeded quarterly expectations with $2.66 EPS versus the $1.95 consensus and $6.26 billion in revenue, up 13.3% year over year.
• The company declared a quarterly dividend of $0.445, equivalent to $1.78 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $263.76.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,574 shares of the apparel retailer's stock, valued at approximately $3,741,000.

Several other large investors have also recently made changes to their positions in ROST. BlackRock Inc. acquired a new stake in shares of Ross Stores in the second quarter valued at about $5,938,711,000. State Street Corp boosted its position in Ross Stores by 0.7% during the fourth quarter. State Street Corp now owns 13,911,953 shares of the apparel retailer's stock worth $2,506,099,000 after acquiring an additional 99,975 shares during the last quarter. Bank of America Corp DE boosted its position in Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer's stock worth $1,222,523,000 after acquiring an additional 1,657,008 shares during the last quarter. Morgan Stanley grew its stake in Ross Stores by 1.5% during the 4th quarter. Morgan Stanley now owns 5,436,788 shares of the apparel retailer's stock valued at $979,384,000 after acquiring an additional 79,519 shares in the last quarter. Finally, Norges Bank purchased a new stake in Ross Stores during the 4th quarter valued at about $868,360,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $241.52 on Tuesday. The firm has a market cap of $77.48 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 52 week low of $143.39 and a 52 week high of $257.00. The business's fifty day simple moving average is $233.90 and its 200-day simple moving average is $222.44.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.56 EPS. Equities analysts forecast that Ross Stores, Inc. will post 8.13 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores's payout ratio is 21.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ROST shares. Wall Street Zen lowered shares of Ross Stores from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. Robert W. Baird upped their price target on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company upped their price target on Ross Stores from $245.00 to $248.00 and gave the company an "equal weight" rating in a research report on Friday. Truist Financial increased their price target on Ross Stores from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $294.00 price objective on shares of Ross Stores in a research report on Friday. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $263.76.

Ross Stores News Roundup

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

• Positive Sentiment: Earnings beat supports upside: Ross Stores substantially exceeded quarterly EPS expectations and reported double-digit revenue growth, reinforcing investor confidence in its off-price retail model. Ross Stores Trounces Earnings, Set To Retake Buy Point
• Positive Sentiment: Higher price targets: JPMorgan raised its price target to $272, while Robert W. Baird forecast strong potential appreciation. These actions suggest some analysts see additional upside following the earnings performance. JPMorgan Raises Ross Stores Price Target Baird Forecasts Strong Price Appreciation
• Positive Sentiment: Technical setup improves: A market forecast indicates that recent support has held across multiple timeframes, potentially allowing ROST to break above $245 and pursue higher technical targets. Ross Stores Price Forecast
• Neutral Sentiment: Analyst consensus remains constructive: Ross Stores carries an average “Moderate Buy” recommendation, indicating generally favorable sentiment but not unanimous conviction. Ross Stores Moderate Buy Recommendation
• Neutral Sentiment: UBS maintained a Hold rating, providing a counterpoint to the more bullish price-target revisions. UBS Maintains Hold Rating
• Neutral Sentiment: Investor attention remains focused on retail momentum and ROST’s outperformance versus TJX, although commentary from Jim Cramer is not a fundamental earnings catalyst. Jim Cramer Discusses Ross Stores and TJX

Ross Stores 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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