Shell Asset Management Co. Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)

Shell Asset Management Co. raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,346 shares of the apparel retailer’s stock after buying an additional 78 shares during the period. Shell Asset Management Co.’s holdings in Ross Stores were worth $3,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock worth $2,335,790,000 after buying an additional 1,208,861 shares during the period. BlackRock Inc. increased its position in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares during the period. State Street Corp increased its position in shares of Ross Stores by 1.0% in the first quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock valued at $1,178,183,000 after buying an additional 173,336 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ross Stores by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock valued at $612,317,000 after buying an additional 146,423 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock valued at $339,347,000 after buying an additional 1,165,463 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.

Shares of Ross Stores, Inc. (ROST) traded down 2.14% during midday trading on Thursday, hitting $54.84. The company had a trading volume of 460,387 shares. The company has a 50-day moving average of $55.54 and a 200 day moving average of $62.61. Ross Stores, Inc. has a 12 month low of $52.91 and a 12 month high of $69.81. The firm has a market capitalization of $21.34 billion, a PE ratio of 18.79 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm posted $0.73 EPS. Ross Stores’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.

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A number of research firms recently weighed in on ROST. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Tuesday. Credit Suisse Group reissued a “neutral” rating and set a $64.00 price target (down from $70.00) on shares of Ross Stores in a research note on Tuesday. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised shares of Ross Stores from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Telsey Advisory Group raised shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Friday, July 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $69.41.

In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the sale, the director now directly owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Ross Stores Company 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.

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

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