PNC Financial Services Group Inc. Trims Stock Position in Ross Stores, Inc. $ROST

PNC Financial Services Group Inc. reduced its stake in Ross Stores, Inc. (NASDAQ:ROST) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 344,744 shares of the apparel retailer’s stock after selling 3,526 shares during the quarter. PNC Financial Services Group Inc. owned 0.11% of Ross Stores worth $52,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Aspect Partners LLC lifted its holdings in shares of Ross Stores by 251.7% during the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 146 shares during the period. American National Bank & Trust acquired a new position in Ross Stores in the 3rd quarter valued at $26,000. Grey Fox Wealth Advisors LLC purchased a new position in Ross Stores during the 3rd quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. raised its position in Ross Stores by 162.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after buying an additional 148 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Ross Stores in the 2nd quarter worth $38,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Trading Up 0.9%

Shares of ROST opened at $196.54 on Tuesday. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $197.24. The company has a current ratio of 1.52, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $63.57 billion, a P/E ratio of 30.71, a PEG ratio of 3.41 and a beta of 0.99. The firm’s 50-day moving average is $187.07 and its two-hundred day moving average is $166.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 20th. The apparel retailer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.38 by $0.20. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.38 billion. Ross Stores had a return on equity of 36.75% and a net margin of 9.47%.The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. On average, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 9th were issued a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.62 annualized dividend and a yield of 0.8%. Ross Stores’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROST. Wells Fargo & Company boosted their price target on shares of Ross Stores from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Erste Group Bank assumed coverage on shares of Ross Stores in a research report on Friday, October 31st. They issued a “buy” rating for the company. Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Telsey Advisory Group increased their target price on Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. raised their price target on Ross Stores from $188.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $189.94.

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.