Connor Clark & Lunn Investment Management Ltd. Has $1.91 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,683 shares of the apparel retailer’s stock after acquiring an additional 711 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ross Stores were worth $1,907,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ROST. Morgan Stanley lifted its position in shares of Ross Stores by 34.7% during the 2nd quarter. Morgan Stanley now owns 1,371,486 shares of the apparel retailer’s stock valued at $170,064,000 after acquiring an additional 353,069 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Ross Stores by 607.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 538 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 462 shares during the period. Teacher Retirement System of Texas raised its holdings in Ross Stores by 2.3% during the third quarter. Teacher Retirement System of Texas now owns 152,048 shares of the apparel retailer’s stock worth $16,550,000 after buying an additional 3,399 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Ross Stores by 5.2% during the third quarter. Alliancebernstein L.P. now owns 1,975,584 shares of the apparel retailer’s stock worth $215,042,000 after buying an additional 97,260 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in Ross Stores by 27.1% during the third quarter. Forsta AP Fonden now owns 106,429 shares of the apparel retailer’s stock worth $11,585,000 after buying an additional 22,700 shares during the last quarter. Institutional investors own 87.02% of the company’s stock.

ROST opened at $92.06 on Friday. The firm has a market cap of $32.35 billion, a P/E ratio of 18.94, a PEG ratio of 1.77 and a beta of 0.92. The firm has a 50-day moving average of $95.83 and a 200 day moving average of $102.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.77. Ross Stores, Inc. has a fifty-two week low of $84.44 and a fifty-two week high of $131.23.

Ross Stores (NASDAQ:ROSTGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The apparel retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.95 billion. Ross Stores had a net margin of 9.11% and a return on equity of 44.17%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts predict that Ross Stores, Inc. will post 5.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.24 annualized dividend and a yield of 1.35%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.29. Ross Stores’s dividend payout ratio is presently 25.51%.

Ross Stores declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 1st that allows the company to buyback $1.90 billion in shares. This buyback authorization allows the apparel retailer to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several research analysts have weighed in on ROST shares. Credit Suisse Group upped their price objective on shares of Ross Stores from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, April 11th. Gordon Haskett downgraded shares of Ross Stores from an “accumulate” rating to a “hold” rating and lowered their price objective for the stock from $130.00 to $106.00 in a report on Thursday, February 10th. Robert W. Baird lowered their price objective on shares of Ross Stores from $148.00 to $115.00 in a report on Wednesday, March 2nd. Cowen lowered their price objective on shares of Ross Stores from $109.00 to $103.00 and set a “market perform” rating on the stock in a report on Tuesday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ross Stores from $128.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $122.75.

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 brand names. 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 for households with moderate income.

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

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