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Meeder Asset Management Inc. Has $35,000 Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Ross Stores logo with Retail/Wholesale background

Key Points

  • Meeder Asset Management Inc. drastically reduced its stake in Ross Stores, Inc. by 98.4% during the first quarter, now holding only 277 shares valued at $35,000.
  • Several analysts have upgraded Ross Stores, with Jefferies Financial Group increasing its target price to $150.00, while the consensus rating on the stock is currently "Moderate Buy" with a target price of $159.06.
  • Ross Stores recently reported earnings of $1.47 per share, surpassing estimates and reflecting a 2.6% increase in revenue compared to the previous year.
  • MarketBeat previews top five stocks to own in September.

Meeder Asset Management Inc. lowered its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 98.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 277 shares of the apparel retailer's stock after selling 17,183 shares during the period. Meeder Asset Management Inc.'s holdings in Ross Stores were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC grew its holdings in Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares during the period. Tradewinds Capital Management LLC grew its holdings in Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares during the period. Putney Financial Group LLC acquired a new stake in Ross Stores during the 4th quarter worth $44,000. Cary Street Partners Financial LLC acquired a new stake in Ross Stores during the 4th quarter worth $48,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Ross Stores during the 4th quarter worth $53,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Evercore ISI reduced their price target on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Telsey Advisory Group reissued a "market perform" rating and set a $150.00 price target on shares of Ross Stores in a research report on Friday, May 23rd. Finally, Morgan Stanley reduced their price target on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.06.

View Our Latest Report on Ross Stores

Ross Stores Stock Up 0.3%

NASDAQ:ROST traded up $0.47 on Friday, hitting $137.01. 2,220,593 shares of the company's stock were exchanged, compared to its average volume of 2,327,187. The firm has a 50-day moving average price of $134.16 and a 200-day moving average price of $137.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a market cap of $44.81 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.94 billion. During the same period in the previous year, the firm posted $1.46 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.405 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.2%. Ross Stores's payout ratio is currently 25.59%.

About Ross Stores

(Free Report)

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

Further Reading

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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