Motco Reduces Stake in Ross Stores, Inc. (ROST)

Motco reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,050 shares of the apparel retailer’s stock after selling 6,180 shares during the quarter. Motco’s holdings in Ross Stores were worth $6,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in Ross Stores by 8,982.4% in the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after purchasing an additional 1,600,027 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in Ross Stores in the fourth quarter worth $117,845,000. Wells Fargo & Company MN boosted its position in Ross Stores by 39.2% in the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after purchasing an additional 1,029,990 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ross Stores by 13.1% in the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after purchasing an additional 849,789 shares during the last quarter. Finally, Flossbach Von Storch AG boosted its position in Ross Stores by 10.7% in the third quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after purchasing an additional 532,900 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Ross Stores, Inc. (NASDAQ ROST) opened at $78.93 on Thursday. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week high of $85.66. The stock has a market capitalization of $29,738.60, a P/E ratio of 25.22, a PEG ratio of 2.10 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.68.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. research analysts expect that Ross Stores, Inc. will post 3.29 earnings per share for the current fiscal year.

A number of research analysts have recently commented on ROST shares. Morgan Stanley boosted their price objective on Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Telsey Advisory Group upped their target price on Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Jefferies Group set a $66.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Saturday, November 18th. Finally, Royal Bank of Canada set a $62.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $73.90.

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About Ross Stores

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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