National Pension Service Sells 4,937 Shares of Ross Stores, Inc. $ROST

Key Points

• National Pension Service reduced its Ross Stores stake by 0.4%, selling 4,937 shares and retaining 1,335,942 shares valued at approximately $284.4 million. Institutional investors collectively own 86.86% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $263.76. Recent targets include $310 from Truist and $294 from Deutsche Bank.
• Ross Stores exceeded quarterly expectations with EPS of $2.66 versus $1.95 expected and revenue of $6.26 billion, up 13.3% year over year. The company also declared a quarterly dividend of $0.445 per share, representing a 0.8% yield.

National Pension Service trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,335,942 shares of the apparel retailer's stock after selling 4,937 shares during the quarter. National Pension Service owned 0.42% of Ross Stores worth $284,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Ross Stores by 2.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,447 shares of the apparel retailer's stock valued at $734,000 after acquiring an additional 95 shares during the period. NorthRock Partners LLC boosted its holdings in shares of Ross Stores by 10.2% during the second quarter. NorthRock Partners LLC now owns 2,663 shares of the apparel retailer's stock worth $567,000 after purchasing an additional 247 shares during the period. RFG Advisory LLC boosted its holdings in shares of Ross Stores by 3.8% during the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer's stock worth $304,000 after purchasing an additional 52 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Ross Stores by 40.6% during the second quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer's stock worth $3,694,000 after purchasing an additional 5,012 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Ross Stores by 35.0% in the second quarter. IFP Advisors Inc now owns 2,031 shares of the apparel retailer's stock worth $432,000 after purchasing an additional 527 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research downgraded Ross Stores from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ross Stores in a report on Monday, July 6th. Truist Financial lifted their price objective on Ross Stores from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $294.00 target price on shares of Ross Stores in a research note on Friday, August 21st. Finally, Wells Fargo & Company upped their target price on Ross Stores from $245.00 to $248.00 and gave the company an "equal weight" rating in a report on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $263.76.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $225.27 on Thursday. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The stock has a market capitalization of $71.96 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.93 and a beta of 0.85. The company's 50-day moving average is $235.55 and its 200 day moving average is $225.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 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 39.29%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the business posted $1.56 earnings per share. Ross Stores's quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently announced 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 0.8%. The ex-dividend date is Tuesday, September 8th. Ross Stores's dividend payout ratio (DPR) is presently 21.55%.

About Ross Stores

Ross Stores, Inc NASDAQ: ROST is an off-price retailer that operates Ross Dress for Less and dd's DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.

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