Mitsubishi UFJ Asset Management Co. Ltd. Acquires 54,877 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ross Stores, Inc. by 9.5%, owning 631,301 shares valued at approximately $80.7 million as of its latest SEC filing.
• Ross Stores reported a quarterly EPS of $1.47, exceeding estimates, with revenues of $4.98 billion, an increase of 2.6% compared to the previous year.
• The company announced a quarterly dividend of $0.405 per share, with a yield of 1.1%, reflecting a dividend payout ratio of 25.59%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,301 shares of the apparel retailer's stock after buying an additional 54,877 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Ross Stores worth $80,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ROST. Baird Financial Group Inc. lifted its position in shares of Ross Stores by 274.3% during the 4th quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer's stock valued at $3,096,000 after acquiring an additional 14,998 shares during the period. Deutsche Bank AG lifted its position in shares of Ross Stores by 42.0% during the 4th quarter. Deutsche Bank AG now owns 1,276,799 shares of the apparel retailer's stock valued at $193,141,000 after acquiring an additional 377,554 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Ross Stores during the 1st quarter valued at $328,000. Aurdan Capital Management LLC bought a new stake in shares of Ross Stores during the 4th quarter worth $8,516,000. Finally, Aurora Private Wealth Inc. bought a new stake in shares of Ross Stores during the 1st quarter worth $1,476,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.9%

Shares of ROST stock traded up $1.27 during trading hours on Monday, reaching $146.49. The company had a trading volume of 2,399,337 shares, compared to its average volume of 3,075,748. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. The business has a fifty day simple moving average of $134.63 and a 200-day simple moving average of $137.19. The company has a market cap of $47.91 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. On average, research analysts expect 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 was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores's dividend payout ratio (DPR) is currently 25.59%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped 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. Morgan Stanley decreased their price target on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. Loop Capital decreased their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research note on Friday, May 23rd. Finally, Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and raised their target price for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.06.

About Ross Stores

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.