LGT Capital Partners LTD. Sells 59,000 Shares of Ross Stores, Inc. $ROST

LGT Capital Partners LTD. cut its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 498,252 shares of the apparel retailer’s stock after selling 59,000 shares during the period. Ross Stores comprises about 3.7% of LGT Capital Partners LTD.’s holdings, making the stock its 10th largest position. LGT Capital Partners LTD.’s holdings in Ross Stores were worth $75,929,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Ross Stores by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock valued at $4,998,924,000 after purchasing an additional 5,060,954 shares in the last quarter. State Street Corp raised its holdings in Ross Stores by 0.4% in the second quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock valued at $1,782,873,000 after buying an additional 61,168 shares during the period. Primecap Management Co. CA lifted its position in Ross Stores by 0.5% during the second quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock valued at $1,310,081,000 after buying an additional 51,765 shares in the last quarter. Bank of America Corp DE grew its stake in Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock worth $1,222,523,000 after buying an additional 1,657,008 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Ross Stores by 1.6% in the second quarter. Geode Capital Management LLC now owns 8,673,823 shares of the apparel retailer’s stock worth $1,102,077,000 after acquiring an additional 133,005 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of ROST stock opened at $201.89 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.52 and a quick ratio of 0.90. The company’s fifty day moving average price is $188.94 and its two-hundred day moving average price is $168.64. The firm has a market capitalization of $65.30 billion, a P/E ratio of 31.55, a P/E/G ratio of 3.49 and a beta of 0.99. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $203.31.

Analyst Ratings Changes

A number of brokerages have recently commented on ROST. Citigroup raised their target price on shares of Ross Stores from $188.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wells Fargo & Company raised their price objective on Ross Stores from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft set a $221.00 target price on Ross Stores in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and an average price target of $193.28.

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.