Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC decreased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 15.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,451 shares of the apparel retailer’s stock after selling 640 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Ross Stores were worth $300,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Ross Stores during the 4th quarter worth approximately $420,147,000. Vontobel Asset Management Inc. purchased a new position in shares of Ross Stores in the 1st quarter worth $186,885,000. Amundi Pioneer Asset Management Inc. increased its position in shares of Ross Stores by 27.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,383,326 shares of the apparel retailer’s stock worth $510,307,000 after acquiring an additional 940,447 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ross Stores by 45.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,129,928 shares of the apparel retailer’s stock worth $185,240,000 after purchasing an additional 663,971 shares in the last quarter. Finally, Madison Asset Management LLC acquired a new position in Ross Stores in the fourth quarter valued at approximately $58,729,000. Institutional investors own 86.94% of the company’s stock.
Several research firms have issued reports on ROST. Nomura Instinet upped their price target on Ross Stores from $80.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, May 11th. BMO Capital Markets decreased their price objective on shares of Ross Stores from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. BidaskClub lowered shares of Ross Stores from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Morgan Stanley reaffirmed a “buy” rating and issued a $105.00 target price on shares of Ross Stores in a research report on Monday, April 27th. Finally, Nomura lifted their price objective on shares of Ross Stores from $80.00 to $100.00 in a research note on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $110.65.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Ross Stores had a return on equity of 50.11% and a net margin of 10.36%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, research analysts expect that Ross Stores, Inc. will post 3.11 EPS for the current year.
Ross Stores Profile
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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