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Mackenzie Financial Corp Has $8.78 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Ross Stores logo with Retail/Wholesale background

Key Points

  • Mackenzie Financial Corp increased its stake in Ross Stores, Inc. by 19.8% during the first quarter, now holding 68,676 shares valued at approximately $8.78 million.
  • Multiple analysts have rated Ross Stores as a Moderate Buy, with price targets ranging from $146 to $159.06, while the company reported earnings of $1.47 EPS for the last quarter, surpassing expectations.
  • Ross Stores declared a quarterly dividend of $0.405 per share, yielding about 1.2%, with a payout ratio of 25.59%.
  • Five stocks to consider instead of Ross Stores.

Mackenzie Financial Corp grew its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,676 shares of the apparel retailer's stock after buying an additional 11,355 shares during the period. Mackenzie Financial Corp's holdings in Ross Stores were worth $8,776,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. increased its position in Ross Stores by 369.4% in the 1st quarter. University of Texas Texas AM Investment Management Co. now owns 873 shares of the apparel retailer's stock valued at $112,000 after acquiring an additional 687 shares during the period. Alteri Wealth LLC lifted its holdings in shares of Ross Stores by 10.5% during the first quarter. Alteri Wealth LLC now owns 3,164 shares of the apparel retailer's stock worth $404,000 after purchasing an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ross Stores by 16.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,227 shares of the apparel retailer's stock valued at $9,741,000 after buying an additional 10,581 shares during the last quarter. Empirical Finance LLC lifted its stake in shares of Ross Stores by 2.0% in the 1st quarter. Empirical Finance LLC now owns 11,958 shares of the apparel retailer's stock worth $1,528,000 after acquiring an additional 240 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Ross Stores by 104.8% in the first quarter. HB Wealth Management LLC now owns 12,014 shares of the apparel retailer's stock valued at $1,535,000 after acquiring an additional 6,148 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

ROST has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Wells Fargo & Company cut their target price on Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Loop Capital cut their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley cut their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Five 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.06.

Check Out Our Latest Report on Ross Stores

Ross Stores Stock Up 0.3%

NASDAQ ROST traded up $0.47 on Friday, reaching $137.01. The company had a trading volume of 2,220,593 shares, compared to its average volume of 2,327,187. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. The company's fifty day moving average is $134.16 and its 200-day moving average is $137.45. The firm has a market capitalization of $44.81 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its 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 return on equity of 38.77% and a net margin of 9.79%. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 1.2%. Ross Stores's payout ratio is currently 25.59%.

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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