Nissay Asset Management Corp Japan Acquires 5,014 Shares of Ross Stores, Inc. $ROST

Key Points

• Nissay Asset Management increased its Ross Stores stake by 5.5%, purchasing 5,014 additional shares for a total of 95,477 shares valued at approximately $20.3 million. Institutional investors collectively own 86.86% of the company.
• Ross Stores reported strong quarterly results, with EPS of $2.66 versus the $1.95 consensus estimate and revenue of $6.26 billion, up 13.3% year over year.
• The company declared a quarterly dividend of $0.445 per share, equivalent to a 0.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $263.76.

Nissay Asset Management Corp Japan raised its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,477 shares of the apparel retailer's stock after purchasing an additional 5,014 shares during the period. Nissay Asset Management Corp Japan's holdings in Ross Stores were worth $20,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ROST. Cooper Financial Group lifted its stake in shares of Ross Stores by 2.8% during the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer's stock valued at $409,000 after buying an additional 52 shares in the last quarter. Independent Advisor Alliance grew its stake in Ross Stores by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer's stock valued at $596,000 after buying an additional 55 shares in the last quarter. CYBER HORNET ETFs LLC grew its stake in Ross Stores by 6.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer's stock valued at $172,000 after buying an additional 55 shares in the last quarter. MCF Advisors LLC raised its holdings in Ross Stores by 4.6% during the 4th quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer's stock valued at $233,000 after acquiring an additional 57 shares during the period. Finally, Caxton Associates LLP raised its holdings in Ross Stores by 4.3% during the 1st quarter. Caxton Associates LLP now owns 1,421 shares of the apparel retailer's stock valued at $308,000 after acquiring an additional 58 shares during the period. Institutional investors own 86.86% of the company's stock.

Ross Stores Trading Down 0.6%

Shares of ROST stock opened at $228.55 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. Ross Stores, Inc. has a 52-week low of $143.39 and a 52-week high of $257.00. The company has a market capitalization of $73.31 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The business's fifty day moving average is $233.95 and its 200 day moving average is $223.45.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results 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 return on equity of 39.29% and a net margin of 10.85%.The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.16 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.445 per share. 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 21.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group increased their target price on Ross Stores from $265.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Citigroup lifted their price target on Ross Stores from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, August 21st. UBS Group boosted their price objective on Ross Stores from $232.00 to $239.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Zacks Research cut Ross Stores from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein raised their target price on Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Friday, August 21st. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.76.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source