Canoe Financial LP Has $102.92 Million Position in Ross Stores, Inc. $ROST

Key Points

• Canoe Financial LP increased its stake in Ross Stores, Inc. by 18.5% during the second quarter, now holding 806,734 shares valued at approximately $102.92 million.
• Ross Stores recently announced a quarterly dividend of $0.405 per share, with an annualized dividend yield of 1.1% and a dividend payout ratio of 25.71%.
• Analysts have a consensus rating of "Moderate Buy" on Ross Stores' stock, with an average price target of $160.67, reflecting optimism about the company's growth potential.

Canoe Financial LP increased its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,734 shares of the apparel retailer's stock after acquiring an additional 125,740 shares during the period. Canoe Financial LP owned approximately 0.25% of Ross Stores worth $102,923,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC increased its position in Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after acquiring an additional 73 shares during the period. Banque Transatlantique SA bought a new position in shares of Ross Stores during the first quarter worth about $29,000. Bayforest Capital Ltd lifted its holdings in Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares during the last quarter. Tradewinds Capital Management LLC increased its stake in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares during the period. Finally, Putney Financial Group LLC bought a new stake in Ross Stores during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ROST. Telsey Advisory Group restated a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a report on Monday, August 18th. JPMorgan Chase & Co. upped their price target on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Wells Fargo & Company increased their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Barclays raised their target price on shares of Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and raised their price target for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.67.

Ross Stores Stock Performance

Shares of NASDAQ ROST traded down $0.46 during midday trading on Tuesday, hitting $144.21. 410,663 shares of the company's stock were exchanged, compared to its average volume of 3,074,615. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The firm has a market cap of $46.90 billion, a P/E ratio of 22.87, a PEG ratio of 2.81 and a beta of 1.15. The stock's 50 day moving average price is $144.11 and its 200-day moving average price is $138.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 earnings per share. Equities research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.405 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores's dividend payout ratio is currently 25.71%.

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the sale, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

Ross Stores Profile

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.