Chicago Equity Partners LLC raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,900 shares of the apparel retailer’s stock after acquiring an additional 1,065 shares during the quarter. Chicago Equity Partners LLC’s holdings in Ross Stores were worth $7,125,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ROST. TRUE Private Wealth Advisors bought a new position in shares of Ross Stores in the third quarter worth about $115,000. NuWave Investment Management LLC lifted its holdings in shares of Ross Stores by 168.7% in the second quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock worth $145,000 after acquiring an additional 1,068 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Ross Stores by 81.5% in the second quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock worth $158,000 after acquiring an additional 842 shares during the last quarter. MUFG Americas Holdings Corp lifted its holdings in shares of Ross Stores by 216.4% in the second quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock worth $163,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Ross Stores in the second quarter worth about $188,000. 88.33% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on ROST shares. Deutsche Bank increased their target price on shares of Ross Stores from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, August 20th. BidaskClub raised shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. DA Davidson began coverage on shares of Ross Stores in a report on Tuesday, September 25th. They issued a “neutral” rating and a $96.00 target price for the company. Goldman Sachs Group began coverage on Ross Stores in a research note on Monday, September 3rd. They issued a “neutral” rating and a $104.00 price objective for the company. Finally, Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $96.04.
NASDAQ:ROST opened at $101.26 on Tuesday. The company has a market cap of $37.35 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85. Ross Stores, Inc. has a fifty-two week low of $62.85 and a fifty-two week high of $101.40.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, sell-side analysts expect that Ross Stores, Inc. will post 4.12 EPS for the current year.
In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total transaction of $962,665.60. Following the completion of the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of the stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
About Ross Stores
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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.
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