Primecap Management Co. CA Has $1.31 Billion Holdings in Ross Stores, Inc. $ROST

Primecap Management Co. CA grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.5% in the 2nd quarter, Holdings Channel reports. The fund owned 10,268,700 shares of the apparel retailer’s stock after buying an additional 51,765 shares during the period. Primecap Management Co. CA’s holdings in Ross Stores were worth $1,310,081,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. raised its position in Ross Stores by 22.0% in the second quarter. SOA Wealth Advisors LLC. now owns 11,676 shares of the apparel retailer’s stock valued at $1,490,000 after purchasing an additional 2,109 shares during the last quarter. Louisbourg Investments Inc. increased its stake in shares of Ross Stores by 54.2% in the second quarter. Louisbourg Investments Inc. now owns 30,235 shares of the apparel retailer’s stock valued at $3,857,000 after buying an additional 10,625 shares during the period. Pallas Capital Advisors LLC raised its holdings in Ross Stores by 59.9% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,591 shares of the apparel retailer’s stock valued at $968,000 after buying an additional 2,843 shares during the last quarter. HighTower Advisors LLC boosted its position in Ross Stores by 26.6% during the 1st quarter. HighTower Advisors LLC now owns 19,734 shares of the apparel retailer’s stock worth $2,522,000 after buying an additional 4,152 shares during the period. Finally, Credit Agricole S A grew its holdings in Ross Stores by 98.4% during the 1st quarter. Credit Agricole S A now owns 104,200 shares of the apparel retailer’s stock worth $13,316,000 after acquiring an additional 51,692 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ROST. Erste Group Bank began coverage on shares of Ross Stores in a research note on Friday, October 31st. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their target price on Ross Stores from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Robert W. Baird upped their price target on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 22nd. UBS Group lifted their price objective on Ross Stores from $147.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $163.53.

Ross Stores Price Performance

Shares of ROST opened at $159.90 on Wednesday. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $165.07. The company has a 50 day moving average price of $154.70 and a 200-day moving average price of $145.41. The stock has a market capitalization of $52.00 billion, a PE ratio of 25.38, a PEG ratio of 3.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. Equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ross Stores news, insider Stephen C. Brinkley sold 6,437 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the sale, the insider owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. The trade was a 10.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Karen Fleming sold 2,932 shares of Ross Stores stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the sale, the chief marketing officer owned 88,335 shares of the company’s stock, valued at $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,720 shares of company stock worth $7,761,212 over the last quarter. Company insiders own 2.20% of the company’s stock.

Ross Stores Company 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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.