California State Teachers Retirement System boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 680,873 shares of the apparel retailer’s stock after acquiring an additional 32,518 shares during the quarter. California State Teachers Retirement System owned 0.18% of Ross Stores worth $54,640,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in Ross Stores in the 4th quarter valued at $132,000. Sit Investment Associates Inc. grew its stake in Ross Stores by 255.1% in the 4th quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after acquiring an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Ross Stores in the 4th quarter valued at $159,000. Financial Gravity Companies Inc. acquired a new stake in Ross Stores in the 4th quarter valued at $164,000. Finally, Zions Bancorporation grew its stake in Ross Stores by 338.9% in the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after acquiring an additional 1,637 shares during the period. 89.58% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores, Inc. (ROST) opened at $77.00 on Wednesday. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $29,430.00, a price-to-earnings ratio of 21.69, a PEG ratio of 1.91 and a beta of 1.09.
Ross Stores declared that its board has approved a stock repurchase program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, March 16th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is currently 18.03%.
ROST has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Telsey Advisory Group lifted their price target on shares of Ross Stores from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Jefferies Group set a $66.00 price target on shares of Ross Stores and gave the company a “hold” rating in a research note on Saturday, November 18th. Finally, Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $81.86.
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Ross Stores Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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