Ross Stores, Inc. $ROST Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,183 shares of the apparel retailer’s stock after purchasing an additional 21,838 shares during the period. NEOS Investment Management LLC’s holdings in Ross Stores were worth $52,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new position in Ross Stores during the 2nd quarter valued at $49,000. Nykredit A S bought a new stake in shares of Ross Stores in the 2nd quarter worth $37,468,000. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Ross Stores by 22.6% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,236 shares of the apparel retailer’s stock worth $3,882,000 after buying an additional 3,364 shares in the last quarter. Symphony Financial Ltd. Co. lifted its holdings in shares of Ross Stores by 7.7% in the second quarter. Symphony Financial Ltd. Co. now owns 1,191 shares of the apparel retailer’s stock valued at $251,000 after buying an additional 85 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its holdings in shares of Ross Stores by 22.7% in the second quarter. Legacy Financial Advisors Inc. now owns 3,105 shares of the apparel retailer’s stock valued at $661,000 after buying an additional 575 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROST has been the topic of a number of analyst reports. Wall Street Zen cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Evercore set a $290.00 price objective on shares of Ross Stores in a research note on Friday, August 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $270.00 target price on shares of Ross Stores in a report on Friday, May 22nd. Morgan Stanley lifted their target price on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Finally, Truist Financial boosted their price target on shares of Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st. Fifteen investment 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.com, Ross Stores presently has an average rating of “Moderate Buy” and a consensus target price of $263.76.

Ross Stores Price Performance

ROST opened at $231.67 on Friday. The stock has a fifty day moving average price of $234.17 and a 200 day moving average price of $224.67. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The stock has a market cap of $74.01 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.94 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $1.56 EPS. Analysts forecast that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a $0.445 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. Ross Stores’s payout ratio is 21.55%.

About Ross Stores

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.