Mirae Asset Global Investments Co. Ltd. Grows Position in Ross Stores, Inc. $ROST

Mirae Asset Global Investments Co. Ltd. boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 6.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 130,610 shares of the apparel retailer’s stock after acquiring an additional 7,338 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ross Stores were worth $19,904,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ROST. Vanguard Group Inc. increased its position in shares of Ross Stores by 14.8% during 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 during the last quarter. Norges Bank acquired a new stake in Ross Stores in the 2nd quarter valued at approximately $521,159,000. Bank of America Corp DE raised its position in 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. First Trust Advisors LP lifted its stake in Ross Stores by 30.1% during the second quarter. First Trust Advisors LP now owns 3,669,876 shares of the apparel retailer’s stock worth $468,203,000 after purchasing an additional 849,391 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in shares of Ross Stores during the second quarter worth $102,281,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 0.2%

Shares of NASDAQ:ROST opened at $186.50 on Friday. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $194.92. The firm’s 50 day moving average price is $183.39 and its 200 day moving average price is $161.36. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 0.17. The stock has a market cap of $60.32 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 3.55 and a beta of 1.01.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, November 20th. The apparel retailer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The company had revenue of $5.60 billion for 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%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. 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. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

ROST has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Thursday, December 4th. Evercore ISI increased their price target on shares of Ross Stores from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Robert W. Baird set a $200.00 price objective on shares of Ross Stores in a report on Wednesday, December 17th. Telsey Advisory Group increased their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday, November 21st. Finally, Deutsche Bank Aktiengesellschaft set a $221.00 price target on shares of Ross Stores in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.41.

Ross Stores 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.