Danske Bank A S Invests $37.05 Million in Ross Stores, Inc. $ROST

Danske Bank A S acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 174,042 shares of the apparel retailer’s stock, valued at approximately $37,045,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ROST. BlackRock Inc. purchased a new position in Ross Stores during the 2nd quarter valued at about $5,938,711,000. Norges Bank purchased a new stake in Ross Stores during the fourth quarter worth about $868,360,000. Bank of New York Mellon Corp purchased a new stake in Ross Stores during the second quarter worth about $385,441,000. Marshall Wace LLP lifted its position in shares of Ross Stores by 1,908.8% during the third quarter. Marshall Wace LLP now owns 1,816,763 shares of the apparel retailer’s stock worth $276,857,000 after purchasing an additional 1,726,324 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake 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 valued at $1,222,523,000 after purchasing an additional 1,657,008 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROST. UBS Group restated a “buy” rating on shares of Ross Stores in a report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Ross Stores in a report on Monday, July 6th. Truist Financial raised their price target on shares of Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company downgraded shares of Ross Stores from an “overweight” rating to an “equal weight” rating and set a $245.00 price target for the company. in a research note on Tuesday, June 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $290.00 price objective on shares of Ross Stores in a research report on Monday, April 27th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.76.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $234.69 on Thursday. The business has a 50-day simple moving average of $234.03 and a 200-day simple moving average of $221.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 1.54. Ross Stores, Inc. has a one year low of $143.39 and a one year high of $257.00. The company has a market cap of $75.28 billion, a PE ratio of 32.78, a P/E/G ratio of 2.64 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.29. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter last year, the company earned $1.47 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Ross Stores, Inc. will post 7.78 EPS for the current fiscal year.

Ross Stores Announces Dividend

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 of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is currently 24.86%.

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.