DekaBank Deutsche Girozentrale boosted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 963,984 shares of the apparel retailer’s stock after acquiring an additional 117,034 shares during the period. DekaBank Deutsche Girozentrale owned 0.27% of Ross Stores worth $109,092,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC boosted its holdings in Ross Stores by 101.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 74,175 shares of the apparel retailer’s stock valued at $8,074,000 after purchasing an additional 37,363 shares during the last quarter. Mayflower Financial Advisors LLC acquired a new position in Ross Stores in the 4th quarter valued at about $201,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Ross Stores by 12.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 29,407 shares of the apparel retailer’s stock valued at $3,201,000 after purchasing an additional 3,300 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Ross Stores by 169.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 192,989 shares of the apparel retailer’s stock valued at $21,007,000 after purchasing an additional 121,297 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Ross Stores by 3.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 106,059 shares of the apparel retailer’s stock valued at $11,545,000 after purchasing an additional 3,425 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.
ROST has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on shares of Ross Stores from $148.00 to $115.00 in a report on Wednesday, March 2nd. Credit Suisse Group decreased their price objective on shares of Ross Stores from $145.00 to $118.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Truist Financial decreased their price objective on shares of Ross Stores from $136.00 to $122.00 in a report on Friday, February 18th. TheStreet downgraded shares of Ross Stores from a “b-” rating to a “c+” rating in a research note on Monday, March 7th. Finally, Cowen cut their target price on shares of Ross Stores from $109.00 to $103.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Buy” and a consensus target price of $122.65.
Ross Stores (NASDAQ:ROST – Get Rating) last issued its quarterly earnings results on Tuesday, March 1st. The apparel retailer reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Ross Stores had a net margin of 9.11% and a return on equity of 44.17%. Ross Stores’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. Research analysts forecast that Ross Stores, Inc. will post 5.06 EPS for the current fiscal year.
Ross Stores announced that its board has approved a stock buyback program on Tuesday, March 1st that permits the company to repurchase $1.90 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, March 14th. This is a boost from Ross Stores’s previous quarterly dividend of $0.29. Ross Stores’s dividend payout ratio (DPR) is 25.51%.
Ross Stores Company Profile (Get Rating)
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 brands. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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