Keybank National Association OH lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 25.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,985 shares of the apparel retailer’s stock after selling 9,540 shares during the quarter. Keybank National Association OH’s holdings in Ross Stores were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after acquiring an additional 1,600,027 shares during the period. Rockefeller Financial Services Inc. bought a new position in Ross Stores during the 4th quarter worth $117,845,000. Wells Fargo & Company MN increased its stake in Ross Stores by 39.2% during the 3rd 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 during the period. Principal Financial Group Inc. increased its stake in Ross Stores by 13.1% during the 3rd 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 during the period. Finally, Flossbach Von Storch AG increased its stake in Ross Stores by 10.7% during the 3rd 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 during the period. Institutional investors own 91.86% of the company’s stock.
A number of equities analysts have commented on the company. BidaskClub lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Telsey Advisory Group restated a “buy” rating on shares of Ross Stores in a research note on Friday, November 17th. Nomura set a $80.00 price objective on Ross Stores and gave the stock a “buy” rating in a research note on Friday, November 17th. Cowen set a $78.00 price objective on Ross Stores and gave the stock a “buy” rating in a research note on Saturday, November 18th. Finally, SunTrust Banks restated a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.90.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. equities research analysts expect that Ross Stores, Inc. will post 3.29 earnings per share for the current year.
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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.
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