Should You Hold Ross Stores (ROST) Stock?

Madison Funds, managed by Madison Investment Management, released its “Madison Mid Cap Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased by 9.6% compared to a 9.2% increase in the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Madison Funds 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 12, 2023, Ross Stores, Inc. (NASDAQ:ROST) stock closed at $118.75 per share. One-month return of Ross Stores, Inc. (NASDAQ:ROST) was 4.45%, and its shares gained 13.39% of their value over the last 52 weeks. Ross Stores, Inc. (NASDAQ:ROST) has a market capitalization of $40.894 billion.

Madison Funds made the following comment about Ross Stores, Inc. (NASDAQ:ROST) in its fourth-quarter 2022 investor letter:

“The top five contributors for the quarter were Arch Capital Group, Ross Stores, Inc. (NASDAQ:ROST), Gartner, Markel, and PACCAR. Ross Stores is experiencing a difficult retail environment for the low-end consumer. However, results held up better than expected and the outlook appears to be improving.”

Apparel, Clothes

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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 Right Tail Capital’s views on the company. 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.