Wellington Management Group LLP Acquires 3,118,591 Shares of Ross Stores, Inc. $ROST

Wellington Management Group LLP boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 89.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,615,682 shares of the apparel retailer’s stock after buying an additional 3,118,591 shares during the period. Wellington Management Group LLP’s holdings in Ross Stores were worth $1,408,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Woodline Partners LP boosted its holdings in shares of Ross Stores by 39.9% in the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock valued at $3,562,000 after buying an additional 7,951 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Ross Stores by 23.5% in the first quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock valued at $79,000 after purchasing an additional 117 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Ross Stores by 35.8% during the second quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer’s stock worth $1,350,000 after buying an additional 2,792 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Ross Stores by 1.0% during the second quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer’s stock worth $19,200,000 after buying an additional 1,508 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in Ross Stores by 2.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer’s stock worth $1,605,000 after buying an additional 265 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST stock 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 company has a market capitalization of $73.31 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.93 and a beta of 0.86. The company has a 50-day simple moving average of $233.95 and a 200 day simple moving average 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 issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. On average, sell-side analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.8%. Ross Stores’s payout ratio is 21.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ROST shares. JPMorgan Chase & Co. upped their price objective on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Truist Financial increased their price target on shares of Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Evercore set a $290.00 price objective on shares of Ross Stores in a research note on Friday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Ross Stores in a research note on Monday, July 6th. Finally, Barclays lifted their price target on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.76.

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.