Schwab Charles Investment Management Inc. Purchases 57,097 Shares of Ross Stores (ROST)

Schwab Charles Investment Management Inc. grew its position in shares of Ross Stores (NASDAQ:ROST) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,431,311 shares of the apparel retailer’s stock after buying an additional 57,097 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Ross Stores were worth $111,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Novare Capital Management LLC increased its position in shares of Ross Stores by 4.4% in the fourth quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after purchasing an additional 640 shares during the period. Bbva Compass Bancshares Inc. increased its position in shares of Ross Stores by 15.8% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock worth $430,000 after purchasing an additional 730 shares during the period. Comerica Securities Inc. increased its position in shares of Ross Stores by 14.8% in the first quarter. Comerica Securities Inc. now owns 6,618 shares of the apparel retailer’s stock worth $518,000 after purchasing an additional 854 shares during the period. BB&T Investment Services Inc. increased its position in shares of Ross Stores by 7.1% in the fourth quarter. BB&T Investment Services Inc. now owns 13,861 shares of the apparel retailer’s stock worth $1,128,000 after purchasing an additional 920 shares during the period. Finally, Summit Global Investments grew its position in Ross Stores by 12.7% in the first quarter. Summit Global Investments now owns 8,217 shares of the apparel retailer’s stock valued at $641,000 after acquiring an additional 928 shares during the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.

A number of research analysts have issued reports on ROST shares. Credit Suisse Group started coverage on Ross Stores in a research report on Monday, March 12th. They issued an “outperform” rating and a $88.00 target price on the stock. Nomura reiterated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Ross Stores in a research report on Wednesday, January 17th. SunTrust Banks reiterated a “buy” rating on shares of Ross Stores in a research report on Friday, February 2nd. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Finally, Cowen set a $85.00 target price on Ross Stores and gave the company a “buy” rating in a research report on Tuesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.95.



In other news, Chairman Michael Balmuth sold 59,777 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $76.53, for a total transaction of $4,574,733.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard G. Brautigan sold 8,587 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $76.80, for a total value of $659,481.60. Following the sale, the insider now owns 193,089 shares of the company’s stock, valued at approximately $14,829,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,652 shares of company stock valued at $19,829,016. Corporate insiders own 2.40% of the company’s stock.

Shares of ROST stock opened at $81.94 on Monday. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $85.66.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. research analysts anticipate that Ross Stores will post 4.03 earnings per share for the current year.

Ross Stores announced that its board has approved a stock buyback plan on Tuesday, March 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ross Stores Company 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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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