State of New Jersey Common Pension Fund D Has $14.26 Million Stake in Ross Stores, Inc. $ROST

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Ross Stores, Inc. by 7.3%, now owning 111,597 shares worth approximately $14.26 million.
• Ross Stores recently reported quarterly earnings of $1.47 per share, exceeding expectations and showing a revenue increase of 2.6% year-over-year.
• The company declared a quarterly dividend of $0.405 per share, representing an annualized dividend of $1.62 and a yield of 1.1%.

State of New Jersey Common Pension Fund D decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,597 shares of the apparel retailer's stock after selling 8,849 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ross Stores were worth $14,261,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its stake in Ross Stores by 5.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 25,223 shares of the apparel retailer's stock worth $3,815,000 after purchasing an additional 1,195 shares during the period. Mariner LLC raised its holdings in shares of Ross Stores by 3.5% in the 4th quarter. Mariner LLC now owns 54,229 shares of the apparel retailer's stock worth $8,203,000 after buying an additional 1,857 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Ross Stores by 10,614.2% during the 4th quarter. Marshall Wace LLP now owns 257,249 shares of the apparel retailer's stock worth $38,914,000 after buying an additional 254,848 shares during the period. Forum Financial Management LP boosted its stake in Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock valued at $223,000 after buying an additional 74 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Ross Stores by 411.3% in the 4th quarter. First Trust Advisors LP now owns 1,458,963 shares of the apparel retailer's stock valued at $220,697,000 after buying an additional 1,173,607 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Trading Up 1.2%

Ross Stores stock traded up $1.82 during mid-day trading on Tuesday, hitting $147.88. The stock had a trading volume of 3,534,508 shares, compared to its average volume of 2,591,074. The stock has a 50-day simple moving average of $135.35 and a two-hundred day simple moving average of $137.18. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $48.37 billion, a PE ratio of 23.36, a P/E/G ratio of 2.80 and a beta of 1.11. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Ross Stores has set its Q2 2025 guidance at 1.400-1.55 EPS. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores's payout ratio is currently 25.59%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ROST. Barclays dropped their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company dropped their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Evercore ISI cut their price target on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.06.

About Ross Stores

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.