Joel Adams & Associates Inc. Buys Shares of 2,000 Ross Stores, Inc. (NASDAQ:ROST)

Joel Adams & Associates Inc. purchased a new position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the apparel retailer's stock, valued at approximately $303,000.

Several other hedge funds have also recently made changes to their positions in ROST. ORG Partners LLC lifted its position in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 191 shares during the period. Kestra Investment Management LLC acquired a new stake in Ross Stores during the fourth quarter valued at $51,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ross Stores in the third quarter valued at about $53,000. Oakworth Capital Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $57,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Ross Stores in the third quarter worth about $59,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Down 1.8 %

Shares of NASDAQ ROST traded down $2.48 during trading on Friday, reaching $136.61. 2,676,986 shares of the stock were exchanged, compared to its average volume of 2,314,120. The business's 50-day moving average price is $147.93 and its 200 day moving average price is $147.80. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $45.07 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping 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 net margin of 9.95% and a return on equity of 41.83%. The business's 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 earnings per share. As a group, equities analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ROST shares. StockNews.com raised shares of Ross Stores from a "hold" rating to a "buy" rating in a research note on Monday. Guggenheim reiterated a "buy" rating and set a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target 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. Telsey Advisory Group reiterated a "market perform" rating and set a $175.00 price target on shares of Ross Stores in a report on Monday, November 18th. Finally, Evercore ISI raised their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $169.06.

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 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.