Ross Stores (ROST) Rose on Strong Sales Results

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund (Class Y) returned 14.3% compared to a 12.8% return for the Russell Midcap Index. The fund returned 26.5% for the full year compared to 17.2% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Madison Mid Cap Fund featured stocks such as Ross Stores, Inc. (NASDAQ:ROST) in the fourth quarter 2023 investor letter. Headquartered in Dublin, California, Ross Stores, Inc. (NASDAQ:ROST) is an off-price fashion and apparel retailer. On January 12, 2024, Ross Stores, Inc. (NASDAQ:ROST) stock closed at $136.58 per share. One-month return of Ross Stores, Inc. (NASDAQ:ROST) was 1.14%, and its shares gained 13.81% of their value over the last 52 weeks. Ross Stores, Inc. (NASDAQ:ROST) has a market capitalization of $45.982 billion.

Madison Mid Cap Fund stated the following regarding Ross Stores, Inc. (NASDAQ:ROST) in its fourth quarter 2023 investor letter:

“The top five contributors for the quarter were Gartner, Dollar Tree, Arista Networks, Glacier Bancorp, and Ross Stores, Inc. (NASDAQ:ROST). Finally, Ross Stores put up strong sales results in a difficult apparel/home retail market as it continues to execute well and gain market share.”

A fashionable retail store showcasing the company’s apparel products.

Ross Stores, Inc. (NASDAQ:ROST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Ross Stores, Inc. (NASDAQ:ROST) at the end of third quarter which was 54 in the previous quarter.

We discussed Ross Stores, Inc. (NASDAQ:ROST) in another article and shared TimesSquare Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.