Ross Stores, Inc. $ROST Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Ross Stores by 3.1%, bringing its total ownership to 278,799 shares valued at approximately $35.6 million.
• Institutional investors, including Vanguard Group and Invesco, collectively own 86.86% of Ross Stores, indicating strong institutional interest.
• Ross Stores plans to pay a quarterly dividend of $0.405 per share on September 30th, representing an annualized dividend yield of 1.1%.

The Manufacturers Life Insurance Company grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,799 shares of the apparel retailer's stock after purchasing an additional 8,311 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Ross Stores worth $35,628,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ROST. Vanguard Group Inc. boosted its stake in shares of Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock worth $4,360,413,000 after purchasing an additional 4,946,101 shares during the last quarter. Royal Bank of Canada lifted its position in Ross Stores by 69.6% during the fourth quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock worth $504,684,000 after buying an additional 1,368,571 shares during the period. Nuveen LLC purchased a new position in Ross Stores during the first quarter worth about $122,043,000. GAMMA Investing LLC lifted its position in Ross Stores by 16,435.4% during the first quarter. GAMMA Investing LLC now owns 806,099 shares of the apparel retailer's stock worth $103,011,000 after buying an additional 801,224 shares during the period. Finally, Steadfast Capital Management LP lifted its position in Ross Stores by 30.4% during the fourth quarter. Steadfast Capital Management LP now owns 1,633,862 shares of the apparel retailer's stock worth $247,154,000 after buying an additional 380,805 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Down 1.2%

Shares of NASDAQ ROST traded down $1.86 during trading on Friday, reaching $150.95. 2,436,708 shares of the stock were exchanged, compared to its average volume of 3,116,123. The business's 50-day moving average price is $139.90 and its 200 day moving average price is $137.71. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.90 and a beta of 1.15.

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 analysts' consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Ross Stores, Inc. will post 6.17 EPS 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. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 report on Friday, August 22nd. Loop Capital decreased their target price on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Evercore ISI decreased their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company raised their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Finally, Cowen reissued a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $160.67.

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.