Should You Hold Ross Stores (ROST)?

Right Tail Capital, an investment management company, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. For the calendar year 2022, the fund declined -0.7% compared to a -3.5% return for the S&P 500 Index. 90% of the fund’s portfolio is invested in undervalued, high-quality companies with attractive return potential, durable competitive advantages, and excellent management. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Right Tail Capital highlighted stocks like Ross Stores, Inc. (NASDAQ:ROST) in its Q4 2022 investor letter. Headquartered in Dublin, California, Ross Stores, Inc. (NASDAQ:ROST) is a fashion and apparel retailer. On January 10, 2023, Ross Stores, Inc. (NASDAQ:ROST) stock closed at $119.79 per share. One-month return of Ross Stores, Inc. (NASDAQ:ROST) was 2.02%, and its shares gained 13.61% of their value over the last 52 weeks. Ross Stores, Inc. (NASDAQ:ROST) has a market capitalization of $41.252 billion.

Right Tail Capital made the following comment about Ross Stores, Inc. (NASDAQ:ROST) in its Q4 2022 investor letter:

“One of Right Tail’s investments is Ross Stores, Inc. (NASDAQ:ROST) which I purchased at inception in May 2022. I have also owned this business since the early onset of Covid in 2020, one occurrence when the market offered the shares at excellent value.

The company is headquartered in California and has an enterprise value of ~$41B. Like Dollar Tree, Ross Stores delights its customers with a treasure hunt experience. The company has ~2000 off-price retail stores around the country. Ross’ name-brand apparel and home fashions offer savings of 20% to 60% relative to typical retail prices…” (Click here to read the full text)

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Ross Stores, Inc. (NASDAQ:ROST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Ross Stores, Inc. (NASDAQ:ROST) at the end of the third quarter, which was 46 in the previous quarter.

We discussed Ross Stores, Inc. (NASDAQ:ROST) in another article and shared the best stocks to buy before the 2023 recession. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.