CIBC Asset Management Inc Boosts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

CIBC Asset Management Inc grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,567 shares of the apparel retailer's stock after buying an additional 5,235 shares during the quarter. CIBC Asset Management Inc's holdings in Ross Stores were worth $15,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Lummis Asset Management LP boosted its holdings in shares of Ross Stores by 9.4% in the third quarter. Lummis Asset Management LP now owns 15,795 shares of the apparel retailer's stock worth $2,377,000 after buying an additional 1,361 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Ross Stores by 3.8% during the 3rd quarter. Metis Global Partners LLC now owns 14,585 shares of the apparel retailer's stock valued at $2,195,000 after acquiring an additional 540 shares during the period. Curi RMB Capital LLC increased its stake in shares of Ross Stores by 13.0% in the 3rd quarter. Curi RMB Capital LLC now owns 1,744 shares of the apparel retailer's stock worth $262,000 after purchasing an additional 201 shares in the last quarter. Bretton Capital Management LLC purchased a new stake in shares of Ross Stores in the 3rd quarter worth $5,223,000. Finally, KBC Group NV raised its holdings in Ross Stores by 1.9% in the 3rd quarter. KBC Group NV now owns 141,795 shares of the apparel retailer's stock worth $21,341,000 after purchasing an additional 2,708 shares during the period. Institutional investors own 86.86% of the company's stock.

Ross Stores Stock Down 1.2 %

Shares of ROST traded down $1.64 during mid-day trading on Friday, hitting $140.69. The company's stock had a trading volume of 2,837,869 shares, compared to its average volume of 2,272,054. The firm has a market capitalization of $46.68 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.31 and a beta of 1.09. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The company's 50-day moving average is $146.18 and its 200-day moving average is $144.11. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same period in the prior year, the company posted $1.32 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Ross Stores, Inc. will post 6.12 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores's payout ratio is currently 23.71%.

Insiders Place Their Bets

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares of the company's stock, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares of the company's stock, valued at approximately $48,003,532.29. This represents a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock valued at $11,093,051 in the last three months. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on ROST shares. TD Cowen upped their price target on Ross Stores from $173.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. StockNews.com cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on shares of Ross Stores from $163.00 to $178.00 and gave the company an "overweight" rating in a report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Finally, Loop Capital raised their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.00.

Ross Stores Company Profile

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.