Caisse de depot et placement du Quebec Invests $154.39 Million in Ross Stores, Inc. $ROST

Key Points

• Caisse de dépôt et placement du Québec acquired 725,363 Ross Stores shares worth approximately $154.4 million, representing a 0.23% stake. Institutional investors collectively own 86.86% of the retailer.
• Analyst sentiment remains favorable, with 15 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $263.76.
• Ross Stores reported quarterly EPS of $2.66, beating estimates of $1.95, while revenue rose 13.3% year over year to $6.26 billion. The company also declared a quarterly dividend of $0.445 per share, equating to a 0.8% annualized yield.

Caisse de depot et placement du Quebec purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 725,363 shares of the apparel retailer's stock, valued at approximately $154,394,000. Caisse de depot et placement du Quebec owned 0.23% of Ross Stores as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ROST. BlackRock Inc. acquired a new position in Ross Stores during the 2nd quarter valued at about $5,938,711,000. Primecap Management Co. CA acquired a new stake in shares of Ross Stores in the 2nd quarter worth approximately $1,937,995,000. Norges Bank acquired a new stake in shares of Ross Stores in the 4th quarter worth approximately $868,360,000. Legal & General Group Plc bought a new position in shares of Ross Stores in the second quarter valued at approximately $476,200,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Ross Stores in the second quarter valued at approximately $385,441,000. 86.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ROST. JPMorgan Chase & Co. boosted their target price on Ross Stores from $262.00 to $272.00 and gave the stock an "overweight" rating in a report on Friday, August 21st. Robert W. Baird lifted their price target on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. UBS Group boosted their price objective on Ross Stores from $232.00 to $239.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st. The Goldman Sachs Group restated a "buy" rating and issued a $270.00 price objective on shares of Ross Stores in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $294.00 target price on shares of Ross Stores in a research note on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.76.

Ross Stores Trading Down 2.0%

Ross Stores stock opened at $236.27 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The firm has a market cap of $75.79 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.86. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The firm's 50 day moving average price is $234.10 and its two-hundred day moving average price is $223.14.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. On average, research analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. Ross Stores's dividend payout ratio (DPR) is currently 21.55%.

Ross Stores Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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