Invesco Ltd. Has $510.85 Million Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Invesco Ltd. increased its stake in Ross Stores by 5.0%, now owning approximately 3.99 million shares valued at $510.85 million.
• Institutional investors, including Vanguard Group and Royal Bank of Canada, have also significantly raised their holdings in Ross Stores, which now has 86.86% of its stock owned by institutional investors.
• Ross Stores reported a quarterly earnings of $1.47 per share, exceeding analyst estimates and revealing a revenue of $4.98 billion, a 2.6% increase from the previous year.

Invesco Ltd. increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,997,575 shares of the apparel retailer's stock after purchasing an additional 192,148 shares during the quarter. Invesco Ltd. owned 1.22% of Ross Stores worth $510,850,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. raised its holdings in Ross Stores by 6.3% during the first quarter. Benjamin Edwards Inc. now owns 31,418 shares of the apparel retailer's stock worth $4,015,000 after purchasing an additional 1,868 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Ross Stores by 22.4% in the 1st quarter. Covestor Ltd now owns 584 shares of the apparel retailer's stock valued at $75,000 after buying an additional 107 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Ross Stores by 10.6% during the first quarter. Frank Rimerman Advisors LLC now owns 3,435 shares of the apparel retailer's stock worth $439,000 after acquiring an additional 330 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ross Stores in the first quarter valued at $9,350,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Ross Stores during the 1st quarter worth $48,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

Shares of NASDAQ ROST traded down $2.90 during midday trading on Thursday, reaching $147.38. 3,197,108 shares of the company traded hands, compared to its average volume of 3,069,980. The stock has a 50-day moving average price of $134.95 and a 200 day moving average price of $137.34. The company has a market cap of $48.20 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.84 and a beta of 1.11. 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.

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

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.405 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores's dividend payout ratio (DPR) is 25.59%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ROST shares. Loop Capital cut their price target on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and increased their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Barclays decreased 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. Wells Fargo & Company cut their price objective on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price target on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $159.06.

Ross Stores Company 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.