UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Ross Stores, Inc. $ROST

Key Points

• UBS Asset Management increased its Ross Stores stake by 21.6% in the second quarter, adding 386,520 shares to hold 2.18 million shares valued at approximately $463.3 million. Institutional investors and hedge funds collectively own 86.86% of the company.
• Ross Stores reported strong quarterly results, with EPS of $2.66 versus the $1.95 consensus and revenue of $6.26 billion, up 13.3% year over year. Analysts currently expect $8.15 in full-year EPS.
• Wall Street maintains a favorable view, with a consensus “Moderate Buy” rating and an average price target of $263.76; Ross Stores also declared a quarterly dividend of $0.445 per share, representing a 0.8% yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,176,560 shares of the apparel retailer's stock after purchasing an additional 386,520 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of Ross Stores worth $463,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $26,000. Bard Associates Inc. purchased a new stake in shares of Ross Stores in the fourth quarter valued at approximately $31,000. Virtus Advisers LLC purchased a new stake in shares of Ross Stores during the 4th quarter worth $32,000. Fideuram Asset Management Ireland dac purchased a new stake in Ross Stores during the fourth quarter worth about $38,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of Ross Stores in the 2nd quarter worth approximately $41,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $228.55 on Monday. The business has a fifty day simple moving average of $233.95 and a 200-day simple moving average of $223.66. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.92 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 12 month low of $143.39 and a 12 month high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 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 firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the company posted $1.56 EPS. The business's quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th. Ross Stores's payout ratio is currently 21.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ROST. Morgan Stanley boosted their price target on Ross Stores from $231.00 to $234.00 and gave the stock an "equal weight" rating in a report on Friday, August 21st. Robert W. Baird upped their price target on Ross Stores from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. Zacks Research downgraded shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Sanford C. Bernstein upped their price target 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, The Goldman Sachs Group restated a "buy" rating and set a $270.00 price objective on shares of Ross Stores in a research note on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Ross Stores presently has a consensus rating of "Moderate Buy" and an average price target of $263.76.

Ross Stores Profile

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.

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