Primecap Management Co. CA Has $1.31 Billion Stock Position in Ross Stores, Inc. $ROST

Primecap Management Co. CA increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,268,700 shares of the apparel retailer’s stock after purchasing an additional 51,765 shares during the quarter. Primecap Management Co. CA owned approximately 3.14% of Ross Stores worth $1,310,081,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its holdings in Ross Stores by 22.0% during the second quarter. SOA Wealth Advisors LLC. now owns 11,676 shares of the apparel retailer’s stock worth $1,490,000 after buying an additional 2,109 shares during the last quarter. Louisbourg Investments Inc. raised its holdings in Ross Stores by 54.2% in the second quarter. Louisbourg Investments Inc. now owns 30,235 shares of the apparel retailer’s stock worth $3,857,000 after purchasing an additional 10,625 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Ross Stores by 59.9% during the second quarter. Pallas Capital Advisors LLC now owns 7,591 shares of the apparel retailer’s stock worth $968,000 after purchasing an additional 2,843 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Ross Stores by 26.6% in the 1st quarter. HighTower Advisors LLC now owns 19,734 shares of the apparel retailer’s stock valued at $2,522,000 after buying an additional 4,152 shares during the period. Finally, Credit Agricole S A raised its stake in Ross Stores by 98.4% during the 1st quarter. Credit Agricole S A now owns 104,200 shares of the apparel retailer’s stock worth $13,316,000 after buying an additional 51,692 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.3%

ROST stock opened at $159.90 on Wednesday. The business’s 50 day simple moving average is $154.70 and its 200 day simple moving average is $145.41. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $165.07. The firm has a market capitalization of $52.00 billion, a PE ratio of 25.38, a PEG ratio of 3.04 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the company posted $1.59 EPS. Ross Stores’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CEO James Grant Conroy sold 39,351 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the transaction, the chief executive officer owned 157,153 shares in the company, valued at $22,944,338. This trade represents a 20.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Karen Sykes sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the transaction, the chief marketing officer owned 106,413 shares in the company, valued at $16,149,236.88. The trade was a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 52,720 shares of company stock worth $7,761,212. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ROST has been the subject of several recent analyst reports. Erste Group Bank began coverage on Ross Stores in a report on Friday, October 31st. They issued a “buy” rating for the company. TD Cowen increased their target price on Ross Stores from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Citigroup boosted their price objective on shares of Ross Stores from $146.00 to $171.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Wall Street Zen upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their price target on Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.53.

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.