Russell Investments Group Ltd. Lowers Position in Ross Stores, Inc. (ROST)

Russell Investments Group Ltd. lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,606 shares of the apparel retailer’s stock after selling 31,160 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of Ross Stores worth $36,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp grew its holdings in shares of Ross Stores by 216.4% in the 2nd 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 period. Northwestern Mutual Wealth Management Co. grew its holdings in Ross Stores by 31.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the apparel retailer’s stock valued at $552,000 after buying an additional 1,553 shares during the last quarter. SCP Investment LP acquired a new stake in Ross Stores during the 2nd quarter valued at $1,271,000. Bank of America Corp DE grew its holdings in Ross Stores by 7.8% during the 2nd quarter. Bank of America Corp DE now owns 2,126,156 shares of the apparel retailer’s stock valued at $180,192,000 after buying an additional 154,387 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Ross Stores by 1,061.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,044 shares of the apparel retailer’s stock valued at $203,000 after buying an additional 1,868 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Shares of Ross Stores stock opened at $99.00 on Thursday. Ross Stores, Inc. has a fifty-two week low of $62.85 and a fifty-two week high of $101.20. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts expect that Ross Stores, Inc. will post 4.12 earnings per share for the current fiscal year.

ROST has been the topic of a number of analyst reports. Goldman Sachs Group initiated coverage on Ross Stores in a report on Monday, September 3rd. They set a “neutral” rating and a $104.00 target price on the stock. Loop Capital increased their target price on Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 3rd. DA Davidson initiated coverage on Ross Stores in a report on Tuesday, September 25th. They set a “neutral” rating and a $96.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Ross Stores from $98.00 to $96.00 and set an “overweight” rating on the stock in a report on Friday, August 24th. Finally, Cowen set a $101.00 target price on Ross Stores and gave the company a “buy” rating in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and a consensus target price of $96.04.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the transaction, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of the stock in a transaction on Friday, October 12th. The stock was sold at an average price of $95.15, for a total value 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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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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