Intech Investment Management LLC Sells 12,897 Shares of Ross Stores, Inc. $ROST

Intech Investment Management LLC cut its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 34.7% during the second quarter, HoldingsChannel.com reports. The firm owned 24,260 shares of the apparel retailer’s stock after selling 12,897 shares during the period. Intech Investment Management LLC’s holdings in Ross Stores were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aspect Partners LLC increased its stake in shares of Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock valued at $26,000 after buying an additional 146 shares during the period. Bayforest Capital Ltd increased its position in Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after buying an additional 190 shares during the period. Banque Transatlantique SA acquired a new position in Ross Stores in the 1st quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in Ross Stores in the second quarter valued at approximately $38,000. Finally, Carderock Capital Management Inc. acquired a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $48,000. 86.86% of the stock is owned by institutional investors.

Insider Activity at Ross Stores

In other news, CEO James Grant Conroy sold 39,351 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the completion of the sale, the chief executive officer owned 157,153 shares of the company’s stock, valued at $22,944,338. This represents a 20.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Karen Sykes sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the transaction, the chief marketing officer owned 106,413 shares of the company’s stock, valued at $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 52,720 shares of company stock worth $7,761,212 in the last ninety days. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROST has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a research note on Tuesday, October 14th. Barclays upped their price objective on Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. BTIG Research assumed coverage on Ross Stores in a report on Tuesday, October 14th. They set a “neutral” rating on the stock. Morgan Stanley boosted their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, August 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 price objective on shares of Ross Stores in a research note on Thursday, November 13th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.53.

Ross Stores Stock Up 0.3%

Shares of ROST opened at $159.90 on Wednesday. The business’s 50 day moving average is $154.70 and its 200 day moving average is $145.41. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $165.07. The company has a market capitalization of $52.00 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.04 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

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