Comerica Bank Sells 23,330 Shares of Ross Stores, Inc. (ROST)

Comerica Bank reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 21.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 84,286 shares of the apparel retailer’s stock after selling 23,330 shares during the quarter. Comerica Bank’s holdings in Ross Stores were worth $8,104,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. TD Asset Management Inc. lifted its position in shares of Ross Stores by 4.1% in the 3rd quarter. TD Asset Management Inc. now owns 721,863 shares of the apparel retailer’s stock worth $71,537,000 after buying an additional 28,525 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Ross Stores by 28.6% in the 3rd quarter. Private Advisor Group LLC now owns 20,039 shares of the apparel retailer’s stock worth $1,986,000 after buying an additional 4,459 shares during the last quarter. Chicago Equity Partners LLC lifted its position in shares of Ross Stores by 1.5% in the 3rd quarter. Chicago Equity Partners LLC now owns 71,900 shares of the apparel retailer’s stock worth $7,125,000 after buying an additional 1,065 shares during the last quarter. Synovus Financial Corp lifted its position in Ross Stores by 1.8% in the 3rd quarter. Synovus Financial Corp now owns 44,052 shares of the apparel retailer’s stock valued at $4,361,000 after purchasing an additional 800 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its position in Ross Stores by 77.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 12,180 shares of the apparel retailer’s stock valued at $1,207,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors own 88.33% of the company’s stock.

Several analysts recently weighed in on ROST shares. Goldman Sachs Group started coverage on shares of Ross Stores in a research report on Monday, September 3rd. They issued a “neutral” rating and a $104.00 price objective on the stock. Loop Capital lifted their price objective on shares of Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 3rd. DA Davidson started coverage on shares of Ross Stores in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $96.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Ross Stores from $98.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, August 24th. Finally, Cowen set a $101.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.04.

Ross Stores stock opened at $102.76 on Friday. The stock has a market cap of $37.89 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71. Ross Stores, Inc. has a 52 week low of $63.56 and a 52 week high of $104.35.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. Ross Stores’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. As a group, research analysts forecast that Ross Stores, Inc. will post 4.15 earnings per share for the current year.

In other news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $95.15, for a total transaction of $1,903,000.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

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About Ross Stores

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.

Further Reading: Book Value Per Share – BVPS

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

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