Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,285 shares of the apparel retailer’s stock after acquiring an additional 55,238 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Ross Stores were worth $13,418,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Ross Stores during the 4th quarter worth approximately $420,147,000. Vontobel Asset Management Inc. bought a new stake in Ross Stores in the first quarter worth $186,885,000. Amundi Pioneer Asset Management Inc. raised its stake in Ross Stores by 27.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,383,326 shares of the apparel retailer’s stock valued at $510,307,000 after purchasing an additional 940,447 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Ross Stores by 45.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,129,928 shares of the apparel retailer’s stock valued at $185,240,000 after purchasing an additional 663,971 shares during the last quarter. Finally, Madison Asset Management LLC purchased a new position in shares of Ross Stores in the 4th quarter worth $58,729,000. Institutional investors and hedge funds own 86.38% of the company’s stock.
Several research analysts recently commented on ROST shares. Deutsche Bank dropped their price target on Ross Stores from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Telsey Advisory Group boosted their target price on Ross Stores from $96.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday. BMO Capital Markets lowered their price target on Ross Stores from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. TheStreet lowered shares of Ross Stores from a “b-” rating to a “c” rating in a research note on Thursday. Finally, UBS Group reduced their target price on shares of Ross Stores from $124.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Buy” and an average target price of $108.54.
Shares of ROST traded down $2.99 during midday trading on Friday, reaching $93.88. 5,320,136 shares of the stock were exchanged, compared to its average volume of 2,676,213. The company has a market capitalization of $34.43 billion, a P/E ratio of 36.39, a PEG ratio of 3.79 and a beta of 0.80. The company has a current ratio of 1.27, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87. Ross Stores, Inc. has a 52 week low of $56.30 and a 52 week high of $124.16. The company’s 50 day moving average is $87.44 and its two-hundred day moving average is $104.45.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.86). Ross Stores had a return on equity of 34.38% and a net margin of 6.63%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company earned $1.15 earnings per share. The firm’s revenue was down 51.4% compared to the same quarter last year. On average, sell-side analysts expect that Ross Stores, Inc. will post 2.55 EPS for the current 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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