Caisse de depot et placement du Quebec Makes New $154.39 Million Investment in Ross Stores, Inc. $ROST

Caisse de depot et placement du Quebec bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 725,363 shares of the apparel retailer’s stock, valued at approximately $154,394,000.

Several other hedge funds and other institutional investors have also modified their holdings of ROST. Woodline Partners LP boosted its position in Ross Stores by 39.9% during the 1st quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock worth $3,562,000 after acquiring an additional 7,951 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Ross Stores by 23.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock valued at $79,000 after purchasing an additional 117 shares during the period. NewEdge Advisors LLC lifted its position in shares of Ross Stores by 35.8% in the second quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer’s stock worth $1,350,000 after purchasing an additional 2,792 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Ross Stores by 1.0% in the second quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer’s stock worth $19,200,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Ross Stores by 2.2% during the second quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer’s stock worth $1,605,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ROST shares. Truist Financial boosted their price objective on shares of Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Barclays lifted their target price on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. UBS Group boosted their price target on shares of Ross Stores from $232.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Wall Street Zen lowered Ross Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Morgan Stanley lifted their price objective on Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

Ross Stores Trading Down 2.0%

Shares of NASDAQ:ROST opened at $236.27 on Thursday. The stock has a market capitalization of $75.79 billion, a PE ratio of 28.60, a P/E/G ratio of 2.03 and a beta of 0.86. Ross Stores, Inc. has a 1 year low of $143.39 and a 1 year high of $257.00. The firm has a fifty day moving average price of $234.10 and a 200 day moving average price of $223.14. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is currently 21.55%.

Ross Stores Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.