Mission Wealth Management LP cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 25.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,746 shares of the apparel retailer’s stock after selling 950 shares during the period. Mission Wealth Management LP’s holdings in Ross Stores were worth $256,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC raised its holdings in Ross Stores by 132.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 302 shares of the apparel retailer’s stock valued at $25,000 after acquiring an additional 172 shares during the last quarter. Balentine LLC purchased a new stake in shares of Ross Stores during the 1st quarter valued at $54,000. RMR Wealth Builders purchased a new stake in shares of Ross Stores during the 2nd quarter valued at $67,000. Berman Capital Advisors LLC grew its stake in shares of Ross Stores by 56.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 935 shares of the apparel retailer’s stock valued at $77,000 after buying an additional 336 shares during the period. Finally, Truewealth LLC grew its stake in shares of Ross Stores by 46.8% during the 2nd quarter. Truewealth LLC now owns 944 shares of the apparel retailer’s stock valued at $81,000 after buying an additional 301 shares during the period. Institutional investors own 84.67% of the company’s stock.
ROST has been the subject of several research reports. Barclays boosted their price objective on shares of Ross Stores from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Loop Capital boosted their price objective on shares of Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. BidaskClub raised shares of Ross Stores from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets lowered their price objective on shares of Ross Stores from $100.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. Finally, Credit Suisse Group reissued a “buy” rating on shares of Ross Stores in a research note on Monday, August 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. Ross Stores currently has an average rating of “Buy” and an average price target of $107.64.
NASDAQ:ROST opened at $95.12 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a 50-day moving average of $93.38 and a two-hundred day moving average of $90.52. The stock has a market cap of $33.86 billion, a P/E ratio of 63.41, a PEG ratio of 7.12 and a beta of 0.74. Ross Stores, Inc. has a 1-year low of $56.30 and a 1-year high of $124.16.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 20th. The apparel retailer reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.34. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.42 billion. Ross Stores had a net margin of 4.25% and a return on equity of 22.08%. The company’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, equities analysts expect that Ross Stores, Inc. will post 1.27 earnings per share for the current 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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