Korea Investment CORP decreased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,184 shares of the apparel retailer’s stock after selling 6,000 shares during the quarter. Korea Investment CORP’s holdings in Ross Stores were worth $10,537,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Flossbach Von Storch AG increased its stake in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after acquiring an additional 4,933,020 shares during the period. Janus Henderson Group PLC increased its stake in shares of Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after acquiring an additional 1,888,715 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ross Stores by 68.4% in the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock worth $265,834,000 after acquiring an additional 1,870,314 shares during the period. Renaissance Technologies LLC increased its stake in shares of Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after acquiring an additional 1,254,028 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Ross Stores by 1.9% in the second quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock worth $2,086,753,000 after acquiring an additional 686,186 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.
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A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $62.00 price objective on shares of Ross Stores in a research note on Monday, September 18th. Wolfe Research cut their price objective on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price objective on shares of Ross Stores in a research note on Sunday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and an average target price of $70.21.
Ross Stores, Inc. (NASDAQ ROST) opened at 63.49 on Wednesday. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $69.81. The firm’s 50-day moving average is $63.36 and its 200 day moving average is $60.41. The stock has a market capitalization of $24.48 billion, a P/E ratio of 20.97 and a beta of 1.14.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Ross Stores, Inc. will post $3.23 EPS for the current year.
In related news, insider Brian R. Morrow sold 6,157 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. Corporate 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.
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