Sompo Asset Management Co. Ltd. Has $1.10 Million Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

24 Nov 2024, 13:36 by Kim Johansen · The Markets Daily

Sompo Asset Management Co. Ltd. grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 6.0% in the third quarter, Holdings Channel reports. The institutional investor owned 7,280 shares of the apparel retailer’s stock after acquiring an additional 410 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Ross Stores were worth $1,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in Ross Stores by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,440,272 shares of the apparel retailer’s stock valued at $517,795,000 after acquiring an additional 129,908 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ross Stores by 10.3% in the second quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock worth $397,747,000 after purchasing an additional 254,720 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ross Stores by 15.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,477,142 shares of the apparel retailer’s stock worth $359,991,000 after purchasing an additional 331,996 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Ross Stores by 68.8% in the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after purchasing an additional 975,190 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Ross Stores by 3.3% during the first quarter. Boston Partners now owns 2,131,529 shares of the apparel retailer’s stock valued at $312,756,000 after buying an additional 69,085 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The trade was a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,138 shares of company stock valued at $11,093,051. Insiders own 2.10% of the company’s stock.

Ross Stores Trading Up 2.2 %

NASDAQ ROST opened at $146.09 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $145.14 and its two-hundred day simple moving average is $144.62. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a market capitalization of $48.47 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.40 and a beta of 1.09.

Ross Stores (NASDAQ:ROST – Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a return on equity of 42.42% and a net margin of 9.95%. Ross Stores’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.33 EPS. Research analysts forecast that Ross Stores, Inc. will post 6.1 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.01%. Ross Stores’s dividend payout ratio (DPR) is 23.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America increased their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Loop Capital increased their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. UBS Group boosted their price target on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.69.

View Our Latest Analysis on Ross Stores

About Ross Stores

(Free Report)

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.