T. Rowe Price Investment Management Inc. Decreases Stake in Ross Stores, Inc. $ROST

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Ross Stores, Inc. by 12.8%, now holding approximately 1.52% of the company, equating to around $638.98 million.
• Various hedge funds have made significant changes to their positions in Ross, with Vanguard Group increasing its stake by 17.0%, now owning over $4.36 billion of the stock.
• Ross Stores reported a Q1 earnings per share (EPS) of $1.47, exceeding estimates and showing a year-over-year revenue increase of 2.6%.

T. Rowe Price Investment Management Inc. lowered its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,000,230 shares of the apparel retailer's stock after selling 734,866 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.52% of Ross Stores worth $638,980,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ROST. Vanguard Group Inc. grew its holdings in Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock valued at $4,360,413,000 after buying an additional 4,946,101 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Royal Bank of Canada grew its holdings in Ross Stores by 69.6% during the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after buying an additional 1,368,571 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Ross Stores during the 4th quarter valued at about $176,973,000. Finally, Nuveen LLC bought a new stake in shares of Ross Stores during the 1st quarter valued at about $122,043,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Barclays dropped their price target on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Loop Capital dropped their price target on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Wells Fargo & Company dropped their target price on Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Morgan Stanley dropped their target price on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and an average target price of $159.06.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $147.88 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. The business's 50 day simple moving average is $135.35 and its two-hundred day simple moving average is $137.18. The stock has a market capitalization of $48.37 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60.

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

Ross Stores Profile

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.

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