Ross Stores, Inc. $ROST Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 61.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,100 shares of the apparel retailer’s stock after selling 8,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Ross Stores were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ROST. NewEdge Wealth LLC boosted its stake in shares of Ross Stores by 8.3% in the third quarter. NewEdge Wealth LLC now owns 7,392 shares of the apparel retailer’s stock valued at $1,199,000 after buying an additional 564 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in Ross Stores by 2.1% in the third quarter. Advisors Capital Management LLC now owns 170,507 shares of the apparel retailer’s stock valued at $25,984,000 after acquiring an additional 3,587 shares during the period. NEOS Investment Management LLC boosted its position in shares of Ross Stores by 66.7% during the 3rd quarter. NEOS Investment Management LLC now owns 144,910 shares of the apparel retailer’s stock worth $22,083,000 after purchasing an additional 58,000 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Ross Stores during the 3rd quarter worth $1,411,000. Finally, Summitry LLC increased its holdings in shares of Ross Stores by 1.3% in the 3rd quarter. Summitry LLC now owns 434,640 shares of the apparel retailer’s stock valued at $66,235,000 after purchasing an additional 5,728 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

NASDAQ ROST opened at $200.38 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. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $200.60. The business has a fifty day moving average of $188.21 and a 200-day moving average of $167.49. The stock has a market cap of $64.81 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.48 and a beta of 0.99.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 20th. The apparel retailer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.38 billion. Ross Stores had a return on equity of 36.75% and a net margin of 9.47%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. As a group, analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ROST. Citigroup boosted their price objective on shares of Ross Stores from $188.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Telsey Advisory Group boosted their price target on Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Friday, November 21st. UBS Group raised their price objective on Ross Stores from $181.00 to $199.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $221.00 target price on Ross Stores in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group upped their target price on Ross Stores from $190.00 to $214.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $190.94.

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.