State of New Jersey Common Pension Fund D trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,446 shares of the apparel retailer's stock after selling 2,550 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ross Stores were worth $18,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Peapack Gladstone Financial Corp raised its position in Ross Stores by 1.8% during the third quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer's stock valued at $588,000 after acquiring an additional 70 shares in the last quarter. Howe & Rusling Inc. grew its stake in shares of Ross Stores by 1.9% in the third quarter. Howe & Rusling Inc. now owns 3,986 shares of the apparel retailer's stock worth $600,000 after acquiring an additional 73 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Ross Stores by 19.1% in the third quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer's stock worth $71,000 after acquiring an additional 76 shares during the last quarter. Alhambra Investment Management LLC grew its stake in shares of Ross Stores by 5.2% in the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer's stock worth $234,000 after acquiring an additional 76 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Ross Stores by 5.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,735 shares of the apparel retailer's stock worth $261,000 after buying an additional 85 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ROST shares. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $171.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. StockNews.com raised Ross Stores from a "hold" rating to a "buy" rating in a report on Monday. TD Cowen cut their price target on Ross Stores from $185.00 to $177.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $140.00 price target (down from $164.00) on shares of Ross Stores in a report on Tuesday, January 21st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $180.00 price target on shares of Ross Stores in a 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.06.
Check Out Our Latest Stock Report on ROST
Ross Stores Trading Down 1.8 %
Shares of Ross Stores stock traded down $2.48 during trading on Friday, hitting $136.61. 2,676,986 shares of the company were exchanged, compared to its average volume of 2,314,120. The firm has a market capitalization of $45.07 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Ross Stores, Inc. has a 1-year low of $127.53 and a 1-year high of $163.60. The firm's fifty day moving average price is $147.93 and its 200 day moving average price is $147.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.
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 (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. The company 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 revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. As a group, sell-side analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.
Ross Stores Profile
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Free Report)
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.
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