Mackenzie Financial Corp Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)

by · The Markets Daily

Mackenzie Financial Corp grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,676 shares of the apparel retailer’s stock after buying an additional 11,355 shares during the quarter. Mackenzie Financial Corp’s holdings in Ross Stores were worth $8,776,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. raised its position in Ross Stores by 369.4% during the 1st quarter. University of Texas Texas AM Investment Management Co. now owns 873 shares of the apparel retailer’s stock worth $112,000 after buying an additional 687 shares during the last quarter. Alteri Wealth LLC raised its position in Ross Stores by 10.5% during the 1st quarter. Alteri Wealth LLC now owns 3,164 shares of the apparel retailer’s stock worth $404,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ross Stores by 16.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,227 shares of the apparel retailer’s stock worth $9,741,000 after buying an additional 10,581 shares during the last quarter. Empirical Finance LLC raised its position in Ross Stores by 2.0% during the 1st quarter. Empirical Finance LLC now owns 11,958 shares of the apparel retailer’s stock worth $1,528,000 after buying an additional 240 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Ross Stores by 104.8% during the 1st quarter. HB Wealth Management LLC now owns 12,014 shares of the apparel retailer’s stock worth $1,535,000 after buying an additional 6,148 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Ross Stores from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Jefferies Financial Group raised shares of Ross Stores from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $150.00 price target on shares of Ross Stores in a research note on Friday, May 23rd. Citigroup raised shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price target on the stock in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $159.06.

View Our Latest Analysis on Ross Stores

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $136.54 on Friday. The stock has a market cap of $44.66 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.65 and a beta of 1.11. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company’s 50-day moving average price is $134.16 and its 200 day moving average price is $137.61. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.94 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores’s dividend payout ratio (DPR) is currently 25.59%.

Ross Stores Company 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.

See Also

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