Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Convergence Financial LLC

Convergence Financial LLC lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,553 shares of the apparel retailer’s stock after selling 88 shares during the quarter. Convergence Financial LLC’s holdings in Ross Stores were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sovran Advisors LLC acquired a new stake in Ross Stores during the fourth quarter worth approximately $269,000. Oak Ridge Investments LLC grew its position in shares of Ross Stores by 10.6% in the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock valued at $17,524,000 after buying an additional 11,060 shares during the last quarter. Nordea Investment Management AB raised its stake in Ross Stores by 137.7% during the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock worth $299,583,000 after acquiring an additional 1,144,774 shares in the last quarter. Czech National Bank raised its stake in Ross Stores by 5.9% during the 4th quarter. Czech National Bank now owns 71,933 shares of the apparel retailer’s stock worth $10,881,000 after acquiring an additional 3,981 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Ross Stores by 10.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 44,822 shares of the apparel retailer’s stock valued at $6,780,000 after acquiring an additional 4,334 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ROST. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. TD Cowen dropped their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday. Telsey Advisory Group restated a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research report on Monday. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $169.06.

Ross Stores Stock Performance

NASDAQ ROST opened at $138.02 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $146.97 and its two-hundred day moving average is $147.77. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.13 and a beta of 1.10. Ross Stores, Inc. has a 12-month low of $127.53 and a 12-month high of $163.60.

Ross Stores 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.