Twin Capital Management Inc. Cuts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)
Twin Capital Management Inc. lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 35.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,754 shares of the apparel retailer’s stock after selling 30,716 shares during the quarter. Twin Capital Management Inc.’s holdings in Ross Stores were worth $5,625,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Ross Stores by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock worth $505,856,000 after acquiring an additional 456,445 shares in the last quarter. Northern Trust Corp increased its holdings in Ross Stores by 2.2% in the 1st quarter. Northern Trust Corp now owns 4,828,660 shares of the apparel retailer’s stock worth $449,548,000 after acquiring an additional 105,658 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Ross Stores by 17.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,499,921 shares of the apparel retailer’s stock worth $232,744,000 after acquiring an additional 379,598 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Ross Stores by 21.0% during the first quarter. California Public Employees Retirement System now owns 2,410,916 shares of the apparel retailer’s stock worth $224,456,000 after buying an additional 418,404 shares in the last quarter. Finally, Coho Partners Ltd. grew its holdings in shares of Ross Stores by 3.0% during the first quarter. Coho Partners Ltd. now owns 1,875,358 shares of the apparel retailer’s stock worth $174,596,000 after buying an additional 54,194 shares in the last quarter. 89.62% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Goldman Sachs Group lowered shares of Ross Stores from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $102.00 to $91.00 in a report on Thursday, June 27th. Robert W. Baird started coverage on shares of Ross Stores in a report on Monday, May 13th. They set an “outperform” rating and a $108.00 target price for the company. Zacks Investment Research raised shares of Ross Stores from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Guggenheim reissued a “buy” rating and set a $105.00 price target on shares of Ross Stores in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $98.64.
Shares of ROST stock traded down $0.99 on Thursday, hitting $101.18. 61,290 shares of the stock traded hands, compared to its average volume of 1,710,133. The company’s 50-day moving average price is $103.95. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $37.67 billion, a PE ratio of 23.78, a PEG ratio of 2.20 and a beta of 0.89. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $108.20.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Ross Stores, Inc. will post 4.51 EPS for the current fiscal year.
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 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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