Pendal Group Ltd Grows Stake in Ross Stores, Inc. (ROST)

Pendal Group Ltd grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,796 shares of the apparel retailer’s stock after purchasing an additional 7,926 shares during the quarter. Pendal Group Ltd’s holdings in Ross Stores were worth $15,935,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. MUFG Americas Holdings Corp boosted its position in Ross Stores by 216.4% during the second quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock worth $163,000 after acquiring an additional 1,316 shares during the last quarter. Personal Capital Advisors Corp raised its stake in Ross Stores by 45.3% during the third quarter. Personal Capital Advisors Corp now owns 12,320 shares of the apparel retailer’s stock worth $1,221,000 after purchasing an additional 3,840 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Ross Stores by 31.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the apparel retailer’s stock worth $552,000 after purchasing an additional 1,553 shares during the period. SCP Investment LP purchased a new position in Ross Stores during the second quarter worth approximately $1,271,000. Finally, Bank of America Corp DE raised its stake in Ross Stores by 7.8% during the second quarter. Bank of America Corp DE now owns 2,126,156 shares of the apparel retailer’s stock worth $180,192,000 after purchasing an additional 154,387 shares during the period. Institutional investors and hedge funds own 88.33% of the company’s stock.

In related news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction on Monday, August 27th. The shares were sold at an average price of $94.90, for a total transaction of $962,665.60. Following the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction on Friday, October 12th. The stock was sold at an average price of $95.15, for a total transaction of $1,903,000.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

ROST has been the topic of a number of recent analyst reports. Goldman Sachs Group initiated coverage on shares of Ross Stores in a research note on Monday, September 3rd. They set a “neutral” rating and a $104.00 price target on the stock. Loop Capital increased their price target on shares of Ross Stores from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. DA Davidson initiated coverage on shares of Ross Stores in a research note on Tuesday, September 25th. They set a “neutral” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Ross Stores from $98.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, August 24th. Finally, Cowen set a $101.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $96.04.

Shares of ROST stock traded up $0.51 during mid-day trading on Wednesday, reaching $101.99. The company’s stock had a trading volume of 5,938 shares, compared to its average volume of 2,656,265. Ross Stores, Inc. has a 12-month low of $63.55 and a 12-month high of $101.71. The company has a current ratio of 1.71, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market cap of $37.35 billion, a PE ratio of 30.43, a P/E/G ratio of 2.43 and a beta of 0.98.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.03. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts expect that Ross Stores, Inc. will post 4.15 EPS for the current fiscal year.

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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.

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

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