New York State Common Retirement Fund Sells 8,700 Shares of Ross Stores, Inc. $ROST

New York State Common Retirement Fund cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 188,901 shares of the apparel retailer’s stock after selling 8,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Ross Stores were worth $28,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ROST. Vanguard Group Inc. boosted its position in Ross Stores by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock worth $4,998,924,000 after purchasing an additional 5,060,954 shares in the last quarter. Norges Bank purchased a new position in Ross Stores in the second quarter valued at $521,159,000. Bank of America Corp DE raised its position in shares of Ross Stores by 20.9% in the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock worth $1,222,523,000 after acquiring an additional 1,657,008 shares during the period. First Trust Advisors LP increased its stake in shares of Ross Stores by 30.1% in the 2nd quarter. First Trust Advisors LP now owns 3,669,876 shares of the apparel retailer’s stock valued at $468,203,000 after purchasing an additional 849,391 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new stake in shares of Ross Stores in the second quarter valued at approximately $102,281,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ROST. TD Cowen reissued a “buy” rating on shares of Ross Stores in a research note on Thursday, December 4th. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Ross Stores in a research report on Monday, December 1st. Wells Fargo & Company upped their price target on Ross Stores from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. raised their price objective on Ross Stores from $188.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $186.41.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $188.65 on Friday. The stock has a market capitalization of $61.02 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 3.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.52 and a quick ratio of 0.90. The business has a 50-day moving average of $183.68 and a 200 day moving average of $161.76. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $194.92.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 20th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.20. Ross Stores had a net margin of 9.47% and a return on equity of 36.75%. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Ross Stores has set its FY 2025 guidance at 6.380-6.46 EPS and its Q4 2025 guidance at 1.770-1.85 EPS. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 9th were paid a $0.405 dividend. The ex-dividend date was Tuesday, December 9th. This represents a $1.62 annualized dividend and a dividend yield of 0.9%. Ross Stores’s payout ratio is 25.31%.

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.