Empire Life Investments Inc. Cuts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Empire Life Investments Inc. lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,233 shares of the apparel retailer's stock after selling 73,727 shares during the quarter. Ross Stores accounts for approximately 1.9% of Empire Life Investments Inc.'s investment portfolio, making the stock its 14th biggest holding. Empire Life Investments Inc. owned 0.06% of Ross Stores worth $30,743,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ROST. ORG Partners LLC raised its position in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 191 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Ross Stores during the third quarter worth $53,000. Oakworth Capital Inc. bought a new stake in Ross Stores during the fourth quarter worth $57,000. Banque Cantonale Vaudoise bought a new stake in Ross Stores during the third quarter worth $59,000. Finally, AM Squared Ltd bought a new stake in Ross Stores during the third quarter worth $60,000. Institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Ross Stores stock traded up $0.64 during midday trading on Wednesday, reaching $139.73. The stock had a trading volume of 2,419,989 shares, compared to its average volume of 2,298,768. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The firm's 50-day moving average price is $148.85 and its 200 day moving average price is $147.91. The firm has a market capitalization of $46.10 billion, a PE ratio of 22.00, a P/E/G ratio of 2.12 and a beta of 1.10. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ROST has been the topic of several research reports. Evercore ISI upped their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Citigroup downgraded shares of Ross Stores from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $179.00 to $152.00 in a report on Tuesday, November 12th. TD Cowen decreased their price objective on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on shares of Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $140.00 price objective (down from $164.00) on shares of Ross Stores in a report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.06.

About Ross Stores

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.