MAI Capital Management Boosts Stake in Ross Stores, Inc. $ROST

MAI Capital Management boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 129.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,053 shares of the apparel retailer’s stock after purchasing an additional 3,974 shares during the period. MAI Capital Management’s holdings in Ross Stores were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ROST. Gateway Investment Advisers LLC lifted its stake in shares of Ross Stores by 3.1% during the 3rd quarter. Gateway Investment Advisers LLC now owns 2,303 shares of the apparel retailer’s stock worth $351,000 after acquiring an additional 69 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Ross Stores by 0.6% during the second quarter. Empirical Finance LLC now owns 12,032 shares of the apparel retailer’s stock valued at $1,535,000 after purchasing an additional 74 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Ross Stores by 4.7% during the third quarter. Legacy Financial Advisors Inc. now owns 1,684 shares of the apparel retailer’s stock valued at $257,000 after purchasing an additional 75 shares during the period. Klingman & Associates LLC grew its holdings in shares of Ross Stores by 1.5% in the third quarter. Klingman & Associates LLC now owns 5,421 shares of the apparel retailer’s stock worth $826,000 after purchasing an additional 79 shares during the last quarter. Finally, Alteri Wealth LLC boosted its position in Ross Stores by 2.2% in the 3rd quarter. Alteri Wealth LLC now owns 3,882 shares of the apparel retailer’s stock valued at $592,000 after buying an additional 85 shares during the period. Institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ROST shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $180.00 target price on shares of Ross Stores in a research report on Monday, February 23rd. Robert W. Baird set a $200.00 price objective on Ross Stores in a research note on Wednesday, December 17th. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Wells Fargo & Company upped their target price on Ross Stores from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $205.00 price target on shares of Ross Stores in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.78.

Ross Stores Stock Up 1.1%

Ross Stores stock opened at $205.64 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 0.17. The firm has a market cap of $66.51 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.58 and a beta of 0.99. The business has a fifty day moving average of $190.57 and a two-hundred day moving average of $170.06. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $206.40.

Ross Stores Company Profile

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.