Mackenzie Financial Corp Sells 5,367 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Mackenzie Financial Corp lessened its holdings in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,529 shares of the apparel retailer’s stock after selling 5,367 shares during the period. Mackenzie Financial Corp’s holdings in Ross Stores were worth $6,439,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Capital Advisors Group LLC. bought a new position in Ross Stores during the second quarter valued at $27,000. Resurgent Financial Advisors LLC bought a new position in Ross Stores during the fourth quarter valued at $29,000. Quarry LP bought a new position in Ross Stores during the first quarter valued at $29,000. Clearstead Advisors LLC increased its position in Ross Stores by 458.0% during the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

ROST opened at $133.34 on Friday. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The company has a market cap of $44.90 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The firm’s 50-day moving average price is $143.94 and its 200-day moving average price is $134.70.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores announced that its board has approved a stock buyback program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 annualized dividend and a dividend yield of 1.10%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is 26.44%.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Loop Capital boosted their target price on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. UBS Group boosted their target price on shares of Ross Stores from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, TD Cowen boosted their target price on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Check Out Our Latest Stock Analysis on ROST

About Ross Stores

(Free Report)

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.

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

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