Comerica Bank trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 112,793 shares of the apparel retailer’s stock after selling 10,438 shares during the period. Comerica Bank’s holdings in Ross Stores were worth $9,541,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $132,000. Sit Investment Associates Inc. grew its position in shares of Ross Stores by 255.1% during the 4th quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after buying an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Ross Stores during the 4th quarter worth about $159,000. Zions Bancorporation grew its position in shares of Ross Stores by 338.9% during the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after buying an additional 1,637 shares during the period. Finally, CAPROCK Group Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth about $204,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.
Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Ross Stores from $65.00 to $71.00 and gave the stock a “market perform” rating in a research report on Friday, November 17th. SunTrust Banks restated a “buy” rating and set a $96.00 target price on shares of Ross Stores in a research report on Friday, February 2nd. Morgan Stanley boosted their target price on Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Nomura restated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Ross Stores in a research report on Wednesday, January 17th. Finally, BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Buy” and a consensus target price of $74.95.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. research analysts anticipate that Ross Stores, Inc. will post 3.29 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://sportsperspectives.com/2018/02/08/ross-stores-inc-rost-shares-sold-by-comerica-bank.html.
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.
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.