EdgePoint Investment Group Inc. Buys 359,832 Shares of Ross Stores, Inc. $ROST

EdgePoint Investment Group Inc. grew its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,414,920 shares of the apparel retailer’s stock after buying an additional 359,832 shares during the period. Ross Stores makes up 4.3% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 13th biggest position. EdgePoint Investment Group Inc. owned approximately 1.35% of Ross Stores worth $563,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ROST. Vanguard Group Inc. raised its position in shares of Ross Stores by 14.8% in the 2nd 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 period. State Street Corp grew its holdings in Ross Stores by 0.4% during the second quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock valued at $1,782,873,000 after purchasing an additional 61,168 shares during the period. Primecap Management Co. CA increased its stake in Ross Stores by 0.5% in the second quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock valued at $1,310,081,000 after purchasing an additional 51,765 shares in the last quarter. Bank of America Corp DE raised its holdings 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 worth $1,222,523,000 after purchasing an additional 1,657,008 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Ross Stores by 1.6% in the second quarter. Geode Capital Management LLC now owns 8,673,823 shares of the apparel retailer’s stock worth $1,102,077,000 after purchasing an additional 133,005 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

ROST stock opened at $182.09 on Friday. The stock has a 50-day moving average price of $164.29 and a two-hundred day moving average price of $149.04. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $185.00. The stock has a market cap of $58.90 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 4.03 and a beta of 1.03. The company has a current ratio of 1.52, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 20th. The apparel retailer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.20. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Ross Stores had a return on equity of 36.75% and a net margin of 9.47%.Ross Stores’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. 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. Equities analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROST. Guggenheim raised shares of Ross Stores to a “strong-buy” rating in a report on Wednesday. Robert W. Baird lifted their target price on Ross Stores from $170.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. JPMorgan Chase & Co. boosted their target price on Ross Stores from $188.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Barclays raised their price target on Ross Stores from $164.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Finally, Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.19.

Insider Activity

In other news, CMO Karen Fleming sold 2,932 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total value of $437,131.88. Following the sale, the chief marketing officer owned 88,335 shares of the company’s stock, valued at $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen C. Brinkley sold 6,437 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total transaction of $971,793.89. Following the transaction, the insider owned 57,012 shares of the company’s stock, valued at $8,607,101.64. The trade was a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,720 shares of company stock worth $7,154,172 over the last ninety days. Insiders own 2.20% of the company’s stock.

Ross Stores Profile

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.