Public Sector Pension Investment Board Raises Stock Position in Ross Stores, Inc. $ROST

Public Sector Pension Investment Board boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,278 shares of the apparel retailer’s stock after purchasing an additional 3,429 shares during the quarter. Public Sector Pension Investment Board’s holdings in Ross Stores were worth $4,309,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. American National Bank & Trust bought a new position in shares of Ross Stores in the third quarter worth $26,000. Grey Fox Wealth Advisors LLC purchased a new position in Ross Stores during the third quarter worth about $29,000. Aspect Partners LLC increased its stake in Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after acquiring an additional 146 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Ross Stores by 162.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 148 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Ross Stores by 152.0% during the 3rd quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 155 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Performance

Shares of ROST opened at $200.38 on Friday. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $200.60. The firm has a market cap of $64.81 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.48 and a beta of 0.99. The firm has a 50 day moving average price of $188.21 and a 200-day moving average price of $167.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.52.

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

Wall Street Analysts Forecast Growth

ROST has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $188.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Deutsche Bank Aktiengesellschaft set a $221.00 price target on shares of Ross Stores in a research note on Thursday, January 8th. Evercore raised their price objective on shares of Ross Stores from $175.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Erste Group Bank assumed coverage on shares of Ross Stores in a report on Friday, October 31st. They set a “buy” rating for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $205.00 target price on shares of Ross Stores in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.94.

Ross Stores Profile

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.