Envestnet Asset Management Inc. Cuts Stake in Ross Stores, Inc. $ROST

Envestnet Asset Management Inc. cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,402,647 shares of the apparel retailer’s stock after selling 18,304 shares during the period. Envestnet Asset Management Inc.’s holdings in Ross Stores were worth $213,749,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ross Stores by 14.8% in the second quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock valued at $4,998,924,000 after acquiring an additional 5,060,954 shares in the last quarter. State Street Corp increased its holdings in Ross Stores by 0.4% during the 2nd quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock worth $1,782,873,000 after purchasing an additional 61,168 shares during the period. Primecap Management Co. CA raised its position in Ross Stores by 0.5% in the 2nd quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock valued at $1,310,081,000 after purchasing an additional 51,765 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Ross Stores by 20.9% in the 2nd quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock valued at $1,222,523,000 after buying an additional 1,657,008 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Ross Stores by 1.6% during the second quarter. Geode Capital Management LLC now owns 8,673,823 shares of the apparel retailer’s stock worth $1,102,077,000 after buying an additional 133,005 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Robert W. Baird set a $200.00 target price on shares of Ross Stores in a report on Wednesday, December 17th. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Citigroup boosted their target price on shares of Ross Stores from $171.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. increased their target price on Ross Stores from $188.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Finally, Evercore ISI lifted their price target on Ross Stores from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.41.

Ross Stores Trading Down 0.0%

NASDAQ ROST opened at $189.23 on Friday. The firm’s fifty day moving average price is $184.76 and its 200 day moving average price is $163.45. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $194.92. 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 company has a market capitalization of $61.21 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.99.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, November 20th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.20. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.38 billion. Ross Stores had a net margin of 9.47% and a return on equity of 36.75%. Ross Stores’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. 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. On average, sell-side analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 9th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, December 9th. Ross Stores’s dividend payout ratio (DPR) is currently 25.31%.

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.