Ross Stores, Inc. (NASDAQ:ROST) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Ross Stores, Inc. (NASDAQ:ROST) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,600,567 shares of the apparel retailer’s stock after purchasing an additional 257,471 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of Ross Stores worth $393,388,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sovran Advisors LLC acquired a new position in Ross Stores in the 4th quarter valued at $269,000. Oak Ridge Investments LLC boosted its holdings in shares of Ross Stores by 10.6% in the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer’s stock valued at $17,524,000 after acquiring an additional 11,060 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Ross Stores by 137.7% in the fourth quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer’s stock valued at $299,583,000 after acquiring an additional 1,144,774 shares in the last quarter. Czech National Bank increased its stake in shares of Ross Stores by 5.9% during the fourth quarter. Czech National Bank now owns 71,933 shares of the apparel retailer’s stock worth $10,881,000 after acquiring an additional 3,981 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Ross Stores by 10.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 44,822 shares of the apparel retailer’s stock worth $6,780,000 after purchasing an additional 4,334 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $138.78 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock’s 50 day moving average price is $147.16 and its 200 day moving average price is $147.84. The firm has a market cap of $45.79 billion, a P/E ratio of 21.86, a PEG ratio of 2.13 and a beta of 1.10. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ROST shares. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $179.00 to $152.00 in a report on Tuesday, November 12th. Evercore ISI lifted their price target on Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 target price (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 price target on shares of Ross Stores in a research note on Monday. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.06.

Ross Stores Company 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.