Cidel Asset Management Inc. Reduces Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Cidel Asset Management Inc. lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,912 shares of the apparel retailer’s stock after selling 4,528 shares during the quarter. Cidel Asset Management Inc.’s holdings in Ross Stores were worth $18,093,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC boosted its stake in shares of Ross Stores by 11.0% in the first quarter. Prestige Wealth Management Group LLC now owns 878 shares of the apparel retailer’s stock worth $105,000 after buying an additional 87 shares during the last quarter. Marco Investment Management LLC boosted its stake in shares of Ross Stores by 1.5% in the first quarter. Marco Investment Management LLC now owns 6,625 shares of the apparel retailer’s stock worth $794,000 after buying an additional 100 shares during the last quarter. Pendal Group Limited boosted its stake in shares of Ross Stores by 2.8% in the first quarter. Pendal Group Limited now owns 4,123 shares of the apparel retailer’s stock worth $494,000 after buying an additional 111 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Ross Stores by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 29,715 shares of the apparel retailer’s stock worth $3,685,000 after buying an additional 114 shares during the last quarter. Finally, ICW Investment Advisors LLC boosted its stake in shares of Ross Stores by 0.7% in the second quarter. ICW Investment Advisors LLC now owns 16,396 shares of the apparel retailer’s stock worth $2,033,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Shares of Ross Stores stock traded up $0.30 during mid-day trading on Wednesday, reaching $112.72. 40,977 shares of the stock traded hands, compared to its average volume of 1,970,499. The business has a 50-day moving average of $120.76 and a 200 day moving average of $122.60. Ross Stores, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $134.21. The stock has a market capitalization of $40.06 billion, a PE ratio of 29.82, a PEG ratio of 2.53 and a beta of 1.02. The company has a quick ratio of 1.37, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Wednesday, August 18th. The apparel retailer reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Ross Stores had a return on equity of 45.58% and a net margin of 7.73%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts expect that Ross Stores, Inc. will post 4.45 EPS for the current fiscal year.

Ross Stores announced that its board has approved a stock repurchase plan on Thursday, May 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Tuesday, September 7th will be issued a $0.285 dividend. The ex-dividend date is Friday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 1.01%. Ross Stores’s dividend payout ratio is presently 97.44%.

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on Ross Stores from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, May 21st. Wedbush reiterated a “neutral” rating on shares of Ross Stores in a research report on Tuesday, May 18th. Robert W. Baird increased their price target on Ross Stores from $140.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, August 20th. JPMorgan Chase & Co. increased their price target on Ross Stores from $132.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, August 16th. Finally, William Blair reiterated an “outperform” rating on shares of Ross Stores in a research report on Wednesday, August 25th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $138.50.

Ross Stores Profile

Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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