Flossbach Von Storch AG raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,819 shares of the apparel retailer’s stock after purchasing an additional 2,579 shares during the period. Flossbach Von Storch AG’s holdings in Ross Stores were worth $7,899,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Ross Stores by 1.6% during the first quarter. BlackRock Inc. now owns 25,445,664 shares of the apparel retailer’s stock valued at $2,213,009,000 after purchasing an additional 402,678 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ross Stores by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 5,130,681 shares of the apparel retailer’s stock worth $596,015,000 after buying an additional 136,380 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ross Stores by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 5,031,232 shares of the apparel retailer’s stock worth $585,736,000 after buying an additional 13,144 shares during the period. Bank of America Corp DE increased its holdings in shares of Ross Stores by 9.5% in the fourth quarter. Bank of America Corp DE now owns 5,009,559 shares of the apparel retailer’s stock worth $583,213,000 after buying an additional 435,998 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Ross Stores by 27.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,383,326 shares of the apparel retailer’s stock worth $510,307,000 after buying an additional 940,447 shares during the period. Institutional investors and hedge funds own 86.38% of the company’s stock.
Several research firms have recently commented on ROST. Bank of America reiterated a “buy” rating and issued a $110.00 price objective (up previously from $105.00) on shares of Ross Stores in a report on Friday. Barclays lifted their price objective on Ross Stores from $111.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group decreased their price objective on Ross Stores from $124.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. TheStreet cut Ross Stores from a “b-” rating to a “c” rating in a research note on Thursday. Finally, Gordon Haskett started coverage on Ross Stores in a research note on Wednesday, January 29th. They issued an “accumulate” rating and a $132.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $108.54.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.86). Ross Stores had a net margin of 6.63% and a return on equity of 34.38%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. Ross Stores’s revenue for the quarter was down 51.4% on a year-over-year basis. On average, sell-side analysts expect that Ross Stores, Inc. will post 2.55 earnings per share for the current fiscal year.
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. 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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