Livforsakringsbolaget Skandia Omsesidigt Makes New $6.74 Million Investment in Ross Stores, Inc. $ROST

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 31,687 shares of the apparel retailer’s stock, valued at approximately $6,741,000.

Other institutional investors have also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in Ross Stores in the 4th quarter worth $26,000. Bard Associates Inc. bought a new position in shares of Ross Stores during the fourth quarter valued at about $31,000. Virtus Advisers LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth about $32,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ross Stores during the fourth quarter worth about $38,000. Finally, Twin Lakes Capital Management LLC bought a new stake in shares of Ross Stores in the second quarter worth about $41,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial boosted their price target on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Sanford C. Bernstein boosted their target price on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. The Goldman Sachs Group restated a “buy” rating and set a $270.00 target price on shares of Ross Stores in a report on Friday, May 22nd. Finally, Morgan Stanley raised their price target on Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

Ross Stores Stock Down 0.6%

Shares of NASDAQ:ROST opened at $228.55 on Friday. Ross Stores, Inc. has a 52-week low of $143.39 and a 52-week high of $257.00. The firm has a market capitalization of $73.31 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.93 and a beta of 0.86. The stock has a 50 day moving average price of $233.95 and a 200-day moving average price of $223.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating 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 company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the business posted $1.56 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

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

Ross Stores Company 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.