Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 46.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,402 shares of the apparel retailer’s stock after selling 1,239 shares during the period. Bridges Investment Management Inc.’s holdings in Ross Stores were worth $212,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ROST. Wellington Management Group LLP increased its holdings in shares of Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares during the period. Nordea Investment Management AB increased its holdings in shares of Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock valued at $299,583,000 after purchasing an additional 1,144,774 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Ross Stores by 4,787.8% in the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock valued at $94,783,000 after purchasing an additional 616,860 shares during the period. Sarasin & Partners LLP acquired a new position in shares of Ross Stores in the fourth quarter valued at about $86,732,000. Finally, National Pension Service increased its holdings in shares of Ross Stores by 39.8% in the fourth quarter. National Pension Service now owns 1,260,515 shares of the apparel retailer’s stock valued at $190,678,000 after purchasing an additional 358,981 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ROST. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (down from $164.00) on shares of Ross Stores in a report on Tuesday, January 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a report on Monday, February 24th. Guggenheim reaffirmed a “buy” rating and set a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Finally, TD Cowen dropped their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.06.

Ross Stores Stock Down 2.5 %

Shares of ROST opened at $136.81 on Tuesday. The firm has a market cap of $45.14 billion, a P/E ratio of 21.54, a PEG ratio of 2.13 and a beta of 1.10. The stock’s 50 day moving average is $146.56 and its two-hundred day moving average is $147.78. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29.

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.