MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 20,216 Shares of Ross Stores, Inc. $ROST

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ross Stores, Inc. by 8.6%, acquiring an additional 20,216 shares in the first quarter, bringing its total to 256,120 shares valued at approximately $32.7 million.
• Wall Street analysts have shown strong interest in Ross Stores, with 12 analysts rating the stock as a Buy and 4 assigning it a Hold, reflecting a consensus rating of "Moderate Buy" and an average price target of $160.67.
• Ross Stores declared a quarterly dividend of $0.405 per share, which will be paid on September 30th, resulting in an annualized yield of 1.1%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,120 shares of the apparel retailer's stock after acquiring an additional 20,216 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of Ross Stores worth $32,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ROST. DoubleLine ETF Adviser LP bought a new stake in shares of Ross Stores during the 1st quarter worth $1,001,000. EdgePoint Investment Group Inc. raised its position in shares of Ross Stores by 59.3% during the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock worth $518,200,000 after purchasing an additional 1,509,815 shares during the period. Cinctive Capital Management LP lifted its holdings in shares of Ross Stores by 6.3% during the first quarter. Cinctive Capital Management LP now owns 70,121 shares of the apparel retailer's stock valued at $8,961,000 after purchasing an additional 4,139 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Ross Stores in the 1st quarter valued at $29,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in Ross Stores by 184.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,080,532 shares of the apparel retailer's stock worth $138,081,000 after purchasing an additional 700,546 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.1%

NASDAQ ROST traded up $0.20 during trading on Wednesday, reaching $149.24. The company's stock had a trading volume of 1,850,174 shares, compared to its average volume of 3,104,115. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $48.81 billion, a PE ratio of 23.69, a PEG ratio of 2.91 and a beta of 1.15. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $158.69. The business has a 50-day moving average price of $141.22 and a 200-day moving average price of $137.95.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted 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 the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. On average, research analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on ROST shares. JPMorgan Chase & Co. upped their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $160.00 price objective (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Barclays boosted their target price on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. UBS Group raised their target price on Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Finally, Loop Capital dropped their price target 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. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and an average price target of $160.67.

Insider Transactions at Ross Stores

In other news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the transaction, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

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.