Nykredit A S Makes New $33.04 Million Investment in Ross Stores, Inc. $ROST

Key Points

• Nykredit A/S invested approximately $33.04 million in Ross Stores during the second quarter by purchasing 155,218 shares. Institutional investors collectively own 86.86% of the company.
• Ross Stores reported strong quarterly results, with revenue rising 13.3% year over year to $6.26 billion and EPS of $2.66, surpassing the $1.95 analyst consensus.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $263.76; however, company insiders recently sold shares, including a $11.29 million sale by the CEO.

Nykredit A S purchased a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 155,218 shares of the apparel retailer's stock, valued at approximately $33,038,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Ross Stores in the 2nd quarter valued at about $5,938,711,000. Bank of America Corp DE acquired a new position in shares of Ross Stores during the 2nd quarter worth approximately $2,024,203,000. Primecap Management Co. CA purchased a new position in shares of Ross Stores during the 2nd quarter valued at approximately $1,937,995,000. Wellington Management Group LLP grew its stake in Ross Stores by 89.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer's stock valued at $1,408,148,000 after acquiring an additional 3,118,591 shares during the period. Finally, Norges Bank acquired a new stake in Ross Stores in the 4th quarter valued at $868,360,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Insider Activity at Ross Stores

In other news, insider Stephen Brinkley sold 6,424 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the transaction, the insider directly owned 51,665 shares of the company's stock, valued at $11,865,383.90. This represents a 11.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the transaction, the chief executive officer directly owned 134,349 shares of the company's stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Ross Stores from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Friday, August 21st. Truist Financial increased their target price on Ross Stores from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, August 21st. Zacks Research downgraded Ross Stores from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Sanford C. Bernstein boosted their target price on Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Friday, August 21st. Finally, 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 report on Friday, August 21st. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $263.76.

Ross Stores Stock Performance

NASDAQ:ROST opened at $226.61 on Friday. Ross Stores, Inc. has a 12 month low of $143.71 and a 12 month high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The firm has a market capitalization of $72.39 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. The business's fifty day moving average price is $237.14 and its 200 day moving average price is $226.59.

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 the consensus estimate of $6.16 billion. During the same period in the previous year, the business earned $1.56 EPS. Ross Stores's revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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 annualized dividend 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%.

Ross Stores News Roundup

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

• Positive Sentiment: Ross Stores is attracting shoppers from rival retailers as consumers increasingly seek value. New traffic data indicate that Ross is gaining ground among discount-focused shoppers, a trend that could support comparable-store sales and market-share gains. Ross Stores and Target Are Winning Shoppers From Rivals
• Positive Sentiment: Analysts see Ross benefiting from abundant closeout merchandise, stronger brand availability and disciplined pricing. These conditions could improve merchandise margins while value-conscious consumers remain focused on bargains. ROST Sees Strong Closeout Supply
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, indicating that analysts generally view the company’s earnings outlook and valuation favorably. Ross Stores Given Moderate Buy Recommendation
• Neutral Sentiment: Ross Stores announced a board refresh that adds two directors while a longtime board member retires. The changes may strengthen oversight and bring new perspectives, but they do not immediately alter the company’s operating outlook. Ross Stores Announces Changes to Board of Directors
• Negative Sentiment: Chief Executive Officer Barbara Rentler sold approximately $11.3 million of ROST stock. Although insider sales can be preplanned and do not necessarily signal weaker fundamentals, the transaction may weigh on investor sentiment. Ross Stores CEO Sells Stock

Ross Stores Profile

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

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.