Private Capital Group LLC Boosts Holdings in Ross Stores, Inc. (ROST)

Private Capital Group LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 86.8% during the 1st quarter, Holdings Channel reports. The firm owned 1,967 shares of the apparel retailer’s stock after acquiring an additional 914 shares during the quarter. Private Capital Group LLC’s holdings in Ross Stores were worth $183,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AlphaStar Capital Management LLC lifted its position in shares of Ross Stores by 21.2% in the first quarter. AlphaStar Capital Management LLC now owns 5,781 shares of the apparel retailer’s stock valued at $538,000 after acquiring an additional 1,010 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Ross Stores by 7.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 88,010 shares of the apparel retailer’s stock valued at $8,194,000 after acquiring an additional 5,976 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Ross Stores by 7.8% in the first quarter. Insight Wealth Strategies LLC now owns 10,973 shares of the apparel retailer’s stock valued at $1,022,000 after acquiring an additional 797 shares in the last quarter. Creative Planning lifted its position in shares of Ross Stores by 1.3% in the first quarter. Creative Planning now owns 15,272 shares of the apparel retailer’s stock valued at $1,422,000 after acquiring an additional 201 shares in the last quarter. Finally, Bailard Inc. lifted its position in shares of Ross Stores by 11.7% in the first quarter. Bailard Inc. now owns 3,810 shares of the apparel retailer’s stock valued at $355,000 after acquiring an additional 400 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on the company. BidaskClub upgraded Ross Stores from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. DA Davidson upped their price objective on Ross Stores to $92.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Wells Fargo & Co upped their price objective on Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Credit Suisse Group upped their price objective on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $97.42.

Ross Stores stock opened at $98.55 on Monday. The stock has a market capitalization of $36.21 billion, a PE ratio of 23.13, a PEG ratio of 2.11 and a beta of 0.89. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Ross Stores, Inc. has a 12 month low of $75.91 and a 12 month high of $104.35.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.05 billion. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. On average, equities analysts forecast that Ross Stores, Inc. will post 4.5 earnings per share for the current fiscal year.

Ross Stores declared that its board has approved a share repurchase program on Tuesday, March 5th that permits the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Michael J. Hartshorn sold 9,924 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $91.48, for a total value of $907,847.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bernard G. Brautigan sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $91.18, for a total value of $1,094,160.00. Following the completion of the transaction, the insider now owns 174,450 shares in the company, valued at $15,906,351. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,054 shares of company stock worth $12,504,328. Company insiders own 2.40% of the company’s stock.

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

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