Destination Wealth Management Decreases Holdings in Ross Stores, Inc. (ROST)

Destination Wealth Management cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 113,178 shares of the apparel retailer’s stock after selling 911 shares during the quarter. Destination Wealth Management’s holdings in Ross Stores were worth $9,083,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Ross Stores by 13.1% during the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after acquiring an additional 849,789 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Ross Stores by 10.7% during the third quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after acquiring an additional 532,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ross Stores by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock worth $340,012,000 after acquiring an additional 85,983 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt raised its stake in shares of Ross Stores by 4.5% during the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,600,000 shares of the apparel retailer’s stock worth $297,022,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Ross Stores by 39.2% during the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after acquiring an additional 1,029,990 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on ROST shares. Royal Bank of Canada set a $62.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research note on Monday, October 30th. Telsey Advisory Group reaffirmed a “buy” rating on shares of Ross Stores in a research note on Friday, November 17th. SunTrust Banks set a $80.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday, November 17th. Morgan Stanley lifted their target price on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Finally, Nomura set a $80.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday, November 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Ross Stores currently has an average rating of “Buy” and a consensus price target of $73.90.

Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at $80.17 on Monday. The firm has a market cap of $30,636.64, a price-to-earnings ratio of 25.61, a P/E/G ratio of 2.16 and a beta of 1.07. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $85.66. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. equities analysts expect that Ross Stores, Inc. will post 3.29 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Destination Wealth Management Decreases Holdings in Ross Stores, Inc. (ROST)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/19/destination-wealth-management-decreases-holdings-in-ross-stores-inc-rost.html.

Ross Stores Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply