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Alberta Investment Management Corp Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Ross Stores logo with Retail/Wholesale background

Key Points

  • Alberta Investment Management Corp acquired 77,208 shares of Ross Stores, Inc. valued at approximately $9.87 million in the first quarter.
  • The company reported a 12-month EPS of $1.47, exceeding analysts' estimates, and quarterly revenue of $4.98 billion, up 2.6% from the previous year.
  • Ross Stores announced a quarterly dividend of $0.405, translating to an annualized yield of 1.2% and a payout ratio of 25.59%.
  • MarketBeat previews the top five stocks to own by September 1st.

Alberta Investment Management Corp acquired a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 77,208 shares of the apparel retailer's stock, valued at approximately $9,866,000.

A number of other institutional investors and hedge funds have also modified their holdings of ROST. Schroder Investment Management Group lifted its stake in shares of Ross Stores by 19.0% in the fourth quarter. Schroder Investment Management Group now owns 83,337 shares of the apparel retailer's stock worth $12,606,000 after buying an additional 13,312 shares during the last quarter. Huntington National Bank lifted its stake in shares of Ross Stores by 1.2% in the fourth quarter. Huntington National Bank now owns 13,227 shares of the apparel retailer's stock worth $2,001,000 after buying an additional 156 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Ross Stores in the fourth quarter worth $2,120,000. AllGen Financial Advisors Inc. lifted its stake in shares of Ross Stores by 2.8% in the fourth quarter. AllGen Financial Advisors Inc. now owns 13,746 shares of the apparel retailer's stock worth $2,079,000 after buying an additional 377 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in Ross Stores during the 4th quarter valued at $14,914,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of ROST traded up $0.47 during trading hours on Friday, hitting $137.01. The stock had a trading volume of 2,220,593 shares, compared to its average volume of 2,438,217. The company's fifty day moving average is $134.16 and its two-hundred day moving average is $137.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The stock has a market capitalization of $44.81 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 2.62 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a yield of 1.2%. Ross Stores's dividend payout ratio is currently 25.59%.

Analysts Set New Price Targets

Several equities analysts recently commented on ROST shares. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Wells Fargo & Company cut their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Barclays cut their target price on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Morgan Stanley cut their target price on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. Finally, Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and upped their target price for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $159.06.

View Our Latest Analysis on ROST

Ross Stores Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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