NEOS Investment Management LLC Grows Holdings in Ross Stores, Inc. $ROST

Key Points

• NEOS Investment Management increased its Ross Stores stake by 9.7% in the second quarter, bringing its holdings to 246,183 shares valued at approximately $52.4 million. Institutional investors collectively own 86.86% of the company.
• Analysts remain broadly bullish, with 15 Buy ratings and six Holds; Ross Stores has a “Moderate Buy” consensus rating and an average price target of $263.76.
• Ross Stores reported quarterly EPS of $2.66, beating estimates of $1.95, while revenue rose 13.3% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.445 per share, representing a 0.8% annualized yield.

NEOS Investment Management LLC lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,183 shares of the apparel retailer's stock after buying an additional 21,838 shares during the quarter. NEOS Investment Management LLC owned approximately 0.08% of Ross Stores worth $52,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ethic Inc. lifted its holdings in Ross Stores by 25.6% during the 4th quarter. Ethic Inc. now owns 23,772 shares of the apparel retailer's stock worth $4,282,000 after buying an additional 4,847 shares during the last quarter. National Pension Service increased its holdings in shares of Ross Stores by 138.4% in the 4th quarter. National Pension Service now owns 1,300,056 shares of the apparel retailer's stock valued at $234,192,000 after acquiring an additional 754,816 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Ross Stores in the 4th quarter valued at approximately $204,750,000. NewEdge Wealth LLC raised its position in shares of Ross Stores by 99.5% during the 4th quarter. NewEdge Wealth LLC now owns 14,745 shares of the apparel retailer's stock valued at $2,656,000 after acquiring an additional 7,353 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Ross Stores by 33.2% during the 4th quarter. CIBC Asset Management Inc now owns 136,426 shares of the apparel retailer's stock valued at $24,576,000 after acquiring an additional 33,995 shares in the last quarter. Institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ROST shares. Citigroup lifted their price objective on shares of Ross Stores from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Barclays raised their price target on shares of Ross Stores from $260.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $294.00 price target on shares of Ross Stores in a report on Friday, August 21st. JPMorgan Chase & Co. increased their price objective on shares of Ross Stores from $262.00 to $272.00 and gave the stock an "overweight" rating in a research note on Friday, August 21st. Finally, Wells Fargo & Company raised their target price on shares of Ross Stores from $245.00 to $248.00 and gave the stock an "equal weight" rating in a report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $263.76.

Ross Stores Stock Performance

ROST opened at $231.67 on Friday. The business's 50 day moving average is $234.17 and its 200-day moving average is $224.67. The stock has a market cap of $74.01 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a twelve month low of $143.39 and a twelve month high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results 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. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts predict that Ross Stores, Inc. will post 8.15 earnings per share 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 21.55%.

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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