Nissay Asset Management Corp Japan Grows Holdings in Ross Stores, Inc. $ROST

Nissay Asset Management Corp Japan raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 95,477 shares of the apparel retailer’s stock after purchasing an additional 5,014 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Ross Stores were worth $20,322,000 at the end of the most recent reporting period.

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

Ross Stores Stock Performance

NASDAQ:ROST opened at $228.55 on Friday. 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, Inc. has a fifty-two week low of $143.39 and a fifty-two week high of $257.00. The firm has a market cap of $73.31 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The business has a 50 day moving average price of $233.95 and a 200-day moving average price of $223.45.

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

Ross Stores Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on ROST shares. The Goldman Sachs Group reiterated a “buy” rating and set a $270.00 price objective on shares of Ross Stores in a research report on Friday, May 22nd. Jefferies Financial Group boosted their target price on Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $294.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $263.76.

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.