MAI Capital Management Raises Stock Position in Ross Stores, Inc. $ROST

MAI Capital Management boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 129.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,053 shares of the apparel retailer’s stock after acquiring an additional 3,974 shares during the period. MAI Capital Management’s holdings in Ross Stores were worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Aspect Partners LLC increased its position in shares of Ross Stores by 251.7% during the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 146 shares in the last quarter. American National Bank & Trust purchased a new stake in Ross Stores in the third quarter valued at about $26,000. Grey Fox Wealth Advisors LLC purchased a new stake in Ross Stores in the third quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 148 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Ross Stores during the second quarter worth about $38,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of ROST opened at $205.64 on Friday. The business’s 50-day moving average is $190.57 and its two-hundred day moving average is $170.06. The company has a market capitalization of $66.51 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.58 and a beta of 0.99. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $206.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.52.

Analysts Set New Price Targets

Several equities analysts recently commented on ROST shares. Wall Street Zen raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Wells Fargo & Company upped their price target on shares of Ross Stores from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Bank of America lifted their price objective on shares of Ross Stores from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Jefferies Financial Group reissued a “buy” rating and issued a $205.00 target price on shares of Ross Stores in a research report on Monday, December 1st. Finally, Evercore raised their target price on Ross Stores from $175.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and a consensus target price of $195.78.

About Ross Stores

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.