Raymond James & Associates trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 37.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,455 shares of the apparel retailer’s stock after selling 139,261 shares during the period. Raymond James & Associates owned 0.06% of Ross Stores worth $19,474,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional increased its holdings in shares of Ross Stores by 11,642.0% in the first quarter. CX Institutional now owns 15,382 shares of the apparel retailer’s stock worth $1,338,000 after purchasing an additional 15,251 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Ross Stores in the 1st quarter worth approximately $1,339,000. Ziegler Capital Management LLC increased its stake in Ross Stores by 710.7% in the 2nd quarter. Ziegler Capital Management LLC now owns 51,693 shares of the apparel retailer’s stock worth $4,406,000 after acquiring an additional 45,317 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in shares of Ross Stores by 54.5% during the 1st quarter. Balyasny Asset Management LLC now owns 498,574 shares of the apparel retailer’s stock worth $43,361,000 after acquiring an additional 175,777 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in shares of Ross Stores by 10.5% during the 2nd quarter. DNB Asset Management AS now owns 41,067 shares of the apparel retailer’s stock valued at $3,501,000 after acquiring an additional 3,904 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.
Several research firms have commented on ROST. Wells Fargo & Co increased their price objective on shares of Ross Stores from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Deutsche Bank reduced their price objective on Ross Stores from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Royal Bank of Canada upped their price objective on Ross Stores from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Finally, Nomura dropped their target price on Ross Stores from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $108.85.
Shares of Ross Stores stock opened at $89.67 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.08. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 5.34 and a beta of 0.80. The firm’s 50-day moving average is $87.90 and its two-hundred day moving average is $96.17. Ross Stores, Inc. has a 1 year low of $56.30 and a 1 year high of $124.16.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported ($0.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.86). Ross Stores had a return on equity of 35.71% and a net margin of 6.63%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was down 51.4% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post 1.68 earnings per share for the current 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 brands. Its stores 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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