Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by abrdn plc

abrdn plc lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,293 shares of the apparel retailer's stock after selling 10,218 shares during the quarter. abrdn plc's holdings in Ross Stores were worth $17,543,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Oak Ridge Investments LLC increased its stake in Ross Stores by 10.6% in the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock worth $17,524,000 after buying an additional 11,060 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Ross Stores by 137.7% during the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock worth $299,583,000 after purchasing an additional 1,144,774 shares in the last quarter. Czech National Bank raised its stake in Ross Stores by 5.9% during the 4th quarter. Czech National Bank now owns 71,933 shares of the apparel retailer's stock valued at $10,881,000 after purchasing an additional 3,981 shares during the period. Janney Montgomery Scott LLC raised its stake in Ross Stores by 10.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 44,822 shares of the apparel retailer's stock valued at $6,780,000 after purchasing an additional 4,334 shares during the period. Finally, Algert Global LLC lifted its holdings in Ross Stores by 917.2% in the 3rd quarter. Algert Global LLC now owns 29,498 shares of the apparel retailer's stock worth $4,440,000 after purchasing an additional 26,598 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Price Performance

NASDAQ ROST opened at $142.13 on Tuesday. The company has a market cap of $46.89 billion, a PE ratio of 22.38, a P/E/G ratio of 2.22 and a beta of 1.10. The firm's 50 day moving average price is $151.04 and its 200-day moving average price is $148.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. Ross Stores, Inc. has a 52-week low of $127.53 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.33 EPS. Sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.3675 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.03%. Ross Stores's dividend payout ratio (DPR) is currently 23.15%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein reissued a "market perform" rating and set a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. TD Cowen reduced their price objective on Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. Evercore ISI increased their target price on Ross Stores from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Finally, Citigroup lowered shares of Ross Stores from a "buy" rating to a "neutral" rating and cut their target price for the company from $179.00 to $152.00 in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $169.06.

About Ross Stores

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.