Meritage Portfolio Management lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,830 shares of the apparel retailer’s stock after selling 1,025 shares during the quarter. Meritage Portfolio Management’s holdings in Ross Stores were worth $6,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D bought a new position in shares of Ross Stores in the 3rd quarter worth approximately $646,000. Hendershot Investments Inc. lifted its stake in shares of Ross Stores by 104.8% in the 3rd quarter. Hendershot Investments Inc. now owns 31,927 shares of the apparel retailer’s stock worth $2,062,000 after purchasing an additional 16,340 shares during the period. Andra AP fonden lifted its stake in shares of Ross Stores by 8.5% in the 3rd quarter. Andra AP fonden now owns 105,100 shares of the apparel retailer’s stock worth $6,786,000 after purchasing an additional 8,200 shares during the period. PGGM Investments lifted its stake in shares of Ross Stores by 47.8% in the 3rd quarter. PGGM Investments now owns 720,055 shares of the apparel retailer’s stock worth $46,494,000 after purchasing an additional 232,899 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Ross Stores by 11.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 84,767 shares of the apparel retailer’s stock worth $5,473,000 after purchasing an additional 9,048 shares during the period. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on ROST. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Nomura reiterated a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Cowen set a $78.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a research note on Saturday, November 18th. Jefferies Group set a $66.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research note on Saturday, November 18th. Finally, Buckingham Research increased their price objective on shares of Ross Stores from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.19.

Shares of Ross Stores, Inc. (ROST) opened at $84.57 on Tuesday. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $85.66. The company has a market cap of $32,320.00, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $0.62 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. equities analysts forecast that Ross Stores, Inc. will post 3.29 earnings per share for the current year.

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About Ross Stores

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

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

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