Ross Stores, Inc. (NASDAQ:ROST) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,732 shares of the apparel retailer’s stock after buying an additional 3,165 shares during the quarter. CIBC Asset Management Inc’s holdings in Ross Stores were worth $16,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROST. ORG Partners LLC increased its position in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Ross Stores during the 3rd quarter valued at $53,000. Oakworth Capital Inc. acquired a new stake in shares of Ross Stores during the fourth quarter valued at about $57,000. Banque Cantonale Vaudoise purchased a new stake in Ross Stores during the 3rd quarter worth approximately $59,000. Finally, AM Squared Ltd acquired a new stake in Ross Stores in the third quarter valued at $60,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Trading Down 1.2 %

Shares of ROST stock opened at $138.76 on Tuesday. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60. The firm has a market capitalization of $45.78 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The stock has a fifty day moving average of $149.53 and a two-hundred day moving average of $147.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.06%. Ross Stores’s dividend payout ratio is presently 23.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROST shares. TD Cowen reduced their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 target price (down previously from $164.00) on shares of Ross Stores in a research note on Tuesday, January 21st. Evercore ISI raised their price target on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average price target of $169.06.

About Ross Stores

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.