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

CIBC Asset Management Inc raised its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,732 shares of the apparel retailer's stock after buying an additional 3,165 shares during the quarter. CIBC Asset Management Inc's holdings in Ross Stores were worth $16,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROST. Sanctuary Advisors LLC lifted its position in shares of Ross Stores by 5.7% during the 4th quarter. Sanctuary Advisors LLC now owns 21,463 shares of the apparel retailer's stock valued at $3,282,000 after acquiring an additional 1,156 shares during the period. Catalyst Capital Advisors LLC increased its stake in Ross Stores by 139.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 623 shares of the apparel retailer's stock valued at $94,000 after purchasing an additional 363 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ross Stores by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,971,964 shares of the apparel retailer's stock valued at $298,299,000 after purchasing an additional 6,269 shares during the period. Allworth Financial LP boosted its position in shares of Ross Stores by 2.4% during the 4th quarter. Allworth Financial LP now owns 3,895 shares of the apparel retailer's stock worth $583,000 after purchasing an additional 93 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at about $2,471,000. 86.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROST. Evercore ISI upped their price target on Ross Stores from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. TD Cowen lowered their target price on Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Guggenheim reiterated a "buy" rating and issued a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Morgan Stanley restated an "equal weight" rating and set a $140.00 price target (down previously from $164.00) on shares of Ross Stores in a research note on Tuesday, January 21st. Finally, Telsey Advisory Group restated a "market perform" rating and set a $175.00 price objective on shares of Ross Stores in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $169.06.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $2.48 during mid-day trading on Friday, hitting $136.61. 2,676,986 shares of the stock were exchanged, compared to its average volume of 2,314,120. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a 50-day simple moving average of $147.93 and a 200 day simple moving average of $147.80. The company has a market capitalization of $45.07 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.14 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Ross Stores's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. Sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

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.