Alps Advisors Inc. Reduces Position in Ross Stores (ROST)

Alps Advisors Inc. cut its holdings in Ross Stores (NASDAQ:ROST) by 19.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,243 shares of the apparel retailer’s stock after selling 1,515 shares during the period. Alps Advisors Inc.’s holdings in Ross Stores were worth $487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its holdings in Ross Stores by 168.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 91,937 shares of the apparel retailer’s stock valued at $7,169,000 after purchasing an additional 57,713 shares during the period. Dupont Capital Management Corp boosted its holdings in Ross Stores by 34.4% in the 1st quarter. Dupont Capital Management Corp now owns 18,053 shares of the apparel retailer’s stock valued at $1,408,000 after purchasing an additional 4,621 shares during the period. Wasatch Advisors Inc. boosted its holdings in Ross Stores by 13.1% in the 1st quarter. Wasatch Advisors Inc. now owns 8,605 shares of the apparel retailer’s stock valued at $671,000 after purchasing an additional 1,000 shares during the period. Certified Advisory Corp bought a new position in Ross Stores in the 4th quarter valued at $185,000. Finally, Rehmann Capital Advisory Group bought a new position in Ross Stores in the 4th quarter valued at $216,000. 90.21% of the stock is owned by institutional investors.

Several research analysts have commented on ROST shares. Susquehanna Bancshares set a $95.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Wednesday, March 7th. Loop Capital assumed coverage on shares of Ross Stores in a research report on Thursday, March 8th. They set a “buy” rating and a $85.00 price objective on the stock. Cowen set a $85.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research report on Tuesday, March 6th. Credit Suisse Group assumed coverage on shares of Ross Stores in a research report on Monday, March 12th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $81.95.

Shares of Ross Stores opened at $82.47 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $31.23 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. Ross Stores has a 52 week low of $52.85 and a 52 week high of $85.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. equities analysts forecast that Ross Stores will post 4.03 earnings per share for the current fiscal year.

Ross Stores announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

In other Ross Stores news, CEO Barbara Rentler sold 32,430 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the sale, the chief executive officer now owns 534,318 shares of the company’s stock, valued at approximately $42,494,310.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lisa R. Panattoni sold 12,471 shares of the firm’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $79.48, for a total transaction of $991,195.08. Following the completion of the sale, the insider now directly owns 93,711 shares in the company, valued at approximately $7,448,150.28. The disclosure for this sale can be found here. In the last three months, insiders sold 256,652 shares of company stock worth $19,829,016. Insiders own 2.30% of the company’s stock.

Ross Stores Company 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 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.

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

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