Oak Ridge Investments LLC Has $1.21 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• Oak Ridge Investments LLC significantly reduced its holdings in Ross Stores by 91.8%, owning only 9,456 shares worth approximately $1.21 million after selling over 106,000 shares in the first quarter.
• Various institutional investors, including E Fund Management and Tokio Marine Asset Management, have increased their stakes in Ross Stores, contributing to an overall institutional ownership of 86.86%.
• Ross Stores reported earnings of $1.47 EPS in its latest quarterly results, exceeding expectations, with revenue rising 2.6% year-over-year to $4.98 billion.

Oak Ridge Investments LLC lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 91.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,456 shares of the apparel retailer's stock after selling 106,393 shares during the quarter. Oak Ridge Investments LLC's holdings in Ross Stores were worth $1,208,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. grew its holdings in Ross Stores by 36.6% during the first quarter. E Fund Management Co. Ltd. now owns 9,237 shares of the apparel retailer's stock valued at $1,180,000 after purchasing an additional 2,477 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Ross Stores by 8.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,584 shares of the apparel retailer's stock valued at $1,353,000 after buying an additional 847 shares in the last quarter. S Bank Fund Management Ltd bought a new position in Ross Stores in the first quarter valued at approximately $3,849,000. National Pension Service lifted its stake in Ross Stores by 9.5% in the first quarter. National Pension Service now owns 1,379,679 shares of the apparel retailer's stock valued at $176,309,000 after buying an additional 119,164 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in Ross Stores by 4.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 103,231 shares of the apparel retailer's stock valued at $13,154,000 after buying an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of research reports. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and lifted their price target for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a research note on Friday, May 23rd. Barclays cut their price objective on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, Evercore ISI cut their price objective on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Ross Stores currently has an average rating of "Moderate Buy" and a consensus target price of $159.06.

Ross Stores Stock Performance

NASDAQ ROST opened at $150.28 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average price is $134.95 and its two-hundred day moving average price is $137.34. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The firm has a market capitalization of $49.15 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 2.84 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company's quarterly revenue was up 2.6% 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.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were given a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores's dividend payout ratio is presently 25.59%.

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.