Main Street Research LLC Buys New Stake in Ross Stores, Inc. (NASDAQ:ROST)

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Main Street Research LLC acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,202 shares of the apparel retailer’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Ross Stores by 7.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 61,634 shares of the apparel retailer’s stock worth $5,752,000 after buying an additional 4,124 shares during the last quarter. South State CORP. grew its stake in Ross Stores by 4.0% during the third quarter. South State CORP. now owns 8,986 shares of the apparel retailer’s stock worth $838,000 after buying an additional 346 shares during the last quarter. NatWest Group plc grew its stake in Ross Stores by 2.1% during the third quarter. NatWest Group plc now owns 169,798 shares of the apparel retailer’s stock worth $15,845,000 after buying an additional 3,489 shares during the last quarter. Saturna Capital CORP grew its stake in Ross Stores by 0.7% during the third quarter. Saturna Capital CORP now owns 15,720 shares of the apparel retailer’s stock worth $1,467,000 after buying an additional 105 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its stake in Ross Stores by 0.9% during the third quarter. ICW Investment Advisors LLC now owns 16,518 shares of the apparel retailer’s stock worth $1,541,000 after buying an additional 154 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

ROST has been the topic of several research analyst reports. TheStreet raised shares of Ross Stores from a “c” rating to a “b-” rating in a research note on Thursday. Wells Fargo & Company reissued a “buy” rating on shares of Ross Stores in a research note on Friday, August 21st. BidaskClub raised shares of Ross Stores from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Credit Suisse Group increased their price target on shares of Ross Stores from $105.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday. Finally, MKM Partners increased their price target on shares of Ross Stores from $105.00 to $124.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $112.83.

Shares of NASDAQ:ROST traded down $1.21 during midday trading on Friday, hitting $108.99. The stock had a trading volume of 5,032,141 shares, compared to its average volume of 2,870,151. The company has a market capitalization of $38.80 billion, a P/E ratio of 72.66, a price-to-earnings-growth ratio of 7.17 and a beta of 0.72. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $96.91 and its 200-day moving average price is $92.35. Ross Stores, Inc. has a fifty-two week low of $56.30 and a fifty-two week high of $124.16.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Wednesday, November 18th. The apparel retailer reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.41. Ross Stores had a net margin of 4.25% and a return on equity of 22.08%. During the same quarter last year, the firm posted $1.03 EPS. Research analysts expect that Ross Stores, Inc. will post 1.27 EPS for the current fiscal year.

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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