Intech Investment Management LLC Purchases 20,557 Shares of Ross Stores, Inc. $ROST

Intech Investment Management LLC increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 84.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 44,817 shares of the apparel retailer’s stock after acquiring an additional 20,557 shares during the period. Intech Investment Management LLC’s holdings in Ross Stores were worth $6,830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ROST. Virtus Investment Advisers LLC bought a new position in shares of Ross Stores during the 2nd quarter worth about $1,265,000. Jump Financial LLC bought a new stake in shares of Ross Stores in the second quarter valued at about $7,949,000. Thrivent Financial for Lutherans grew its position in Ross Stores by 84.7% during the third quarter. Thrivent Financial for Lutherans now owns 227,340 shares of the apparel retailer’s stock worth $34,645,000 after buying an additional 104,270 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Ross Stores during the third quarter worth about $1,411,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Ross Stores by 6.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,610 shares of the apparel retailer’s stock valued at $19,904,000 after acquiring an additional 7,338 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of ROST stock opened at $205.64 on Friday. The stock’s fifty day simple moving average is $190.57 and its 200 day simple moving average is $169.91. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $206.40. The firm has a market cap of $66.51 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 3.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.52 and a quick ratio of 0.90.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $221.00 price target on Ross Stores in a report on Thursday, January 8th. JPMorgan Chase & Co. upped their target price on Ross Stores from $215.00 to $232.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Guggenheim raised Ross Stores to a “strong-buy” rating in a research report on Wednesday, December 10th. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, UBS Group boosted their price target on shares of Ross Stores from $181.00 to $199.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.78.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.