Fintel reports that on August 18, 2023, Loop Capital maintained coverage of Ross Stores (NASDAQ:ROST) with a Buy recommendation.
Analyst Price Forecast Suggests 7.99% Upside
As of August 2, 2023, the average one-year price target for Ross Stores is 122.09. The forecasts range from a low of 78.78 to a high of $141.75. The average price target represents an increase of 7.99% from its latest reported closing price of 113.06.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ross Stores is 20,139MM, an increase of 4.84%. The projected annual non-GAAP EPS is 5.11.
What is the Fund Sentiment?
There are 1811 funds or institutions reporting positions in Ross Stores. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ROST is 0.36%, a decrease of 5.09%. Total shares owned by institutions decreased in the last three months by 3.34% to 337,909K shares. 
The put/call ratio of ROST is 1.09, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 26,451K shares representing 7.76% ownership of the company. In it's prior filing, the firm reported owning 41,115K shares, representing a decrease of 55.44%. The firm decreased its portfolio allocation in ROST by 36.73% over the last quarter.
Primecap Management holds 11,275K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 11,180K shares, representing an increase of 0.84%. The firm decreased its portfolio allocation in ROST by 12.17% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,655K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 10,552K shares, representing an increase of 0.97%. The firm decreased its portfolio allocation in ROST by 14.74% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,036K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 8,023K shares, representing an increase of 0.15%. The firm decreased its portfolio allocation in ROST by 15.07% over the last quarter.
Jpmorgan Chase holds 7,939K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 6,036K shares, representing an increase of 23.96%. The firm increased its portfolio allocation in ROST by 23.94% over the last quarter.
Ross Stores Background Information
(This description is provided by the company.)
Ross Stores, Inc. is an S&P 500, Fortune 500, and NASDAQ 100 (ROST) company headquartered in Dublin, California, with fiscal 2019 revenues of $16.0 billion. As of August 1, 2020, the Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,566 locations in 39 states, the District of Columbia, and Guam. Ross offers first-quality,in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day.
Additional reading:
- ROSS STORES REPORTS SECOND QUARTER EARNINGS PROVIDES SECOND HALF AND UPDATED FISCAL 2023 GUIDANCE
- ROSS STORES ANNOUNCES LONG-TERM CEO SUCCESSION PLAN
- Form of Executive Employment Agreement for Executive Officers (CA).
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