Cerity Partners Raises Ross Stores Stake 21.2% to $21.97M in Q3
Cerity Partners LLC increased its Ross Stores shareholding by 21.2%, acquiring 25,177 shares in Q3 to hold 144,173 shares valued at $21.97 million. Vanguard boosted its position by 14.8% to 39.18 million shares worth nearly $5.0 billion, while Bank of America raised its stake 20.9% to 9.58 million shares.
1. Cerity Partners Increases Stake in Ross Stores
Cerity Partners LLC boosted its ownership of Ross Stores shares by 21.2% during the third quarter, acquiring an additional 25,177 shares to reach a total holding of 144,173 shares. According to its latest SEC filing, the value of Cerity’s position stood at approximately $21.97 million at period end, reflecting continued confidence in the off-price retailer’s growth prospects and cash‐generative business model.
2. Significant Institutional Activity in the Second Quarter
Ross Stores attracted notable institutional interest in the second quarter, with Vanguard Group Inc. adding 5.06 million shares to reach a 39.18 million‐share stake valued at nearly $5.0 billion. Norges Bank initiated a new position worth about $521 million, while Bank of America Corp increased its holding by 20.9%, acquiring 1.66 million shares. First Trust Advisors raised its allocation by 30.1%, adding 849,391 shares, and Scopus Asset Management launched a new position worth approximately $102 million. Institutional investors now account for 86.86% of the company’s outstanding shares.
3. Analyst Ratings Reflect Moderate Buy Consensus
A wave of analyst coverage in recent months has produced a consensus rating of “Moderate Buy” for Ross Stores. Bank of America raised its target from $175 to $200 and maintained a buy rating, Jefferies reiterated a buy rating with a $205 target, and TD Cowen lifted its target from $170 to $174. BTIG Research initiated coverage with a neutral stance, while Sanford C. Bernstein held at market perform with a $170 objective. Among 21 analysts, one assigns a Strong Buy, fifteen a Buy and five a Hold, yielding an average target near $186.41.
4. Third‐Quarter Results Show Upside and Positive Outlook
In its third‐quarter report, Ross Stores delivered earnings per share of $1.58, beating consensus by $0.20, and generated revenue of $5.60 billion, up 10.4% year-over-year and $220 million ahead of estimates. Return on equity reached 36.75% and net margin was 9.47%. Management set full‐year fiscal 2025 EPS guidance at a range of 6.380–6.46 and fourth‐quarter EPS guidance between 1.770 and 1.85. The company declared a quarterly dividend of $0.405 per share, reflecting a 25.31% payout ratio and an annualized yield of approximately 0.8%.