Fox Run Management L.L.C. Invests $202,000 in Ross Stores, Inc. (ROST)

Fox Run Management L.L.C. bought a new position in Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 3,500 shares of the apparel retailer’s stock, valued at approximately $202,000.

Several other hedge funds have also bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new position in shares of Ross Stores during the first quarter valued at approximately $112,000. Parallel Advisors LLC increased its position in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Ross Stores during the first quarter valued at approximately $171,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Ross Stores, Inc. (ROST) traded up 0.40% during midday trading on Friday, reaching $55.09. 312,400 shares of the company were exchanged. The firm has a 50-day moving average price of $56.36 and a 200-day moving average price of $63.03. The company has a market capitalization of $21.44 billion, a PE ratio of 18.87 and a beta of 1.10. Ross Stores, Inc. has a 52 week low of $52.91 and a 52 week high of $69.81.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.

Several brokerages recently commented on ROST. Credit Suisse Group reiterated a “neutral” rating and set a $64.00 price target (down from $70.00) on shares of Ross Stores in a report on Wednesday. BidaskClub upgraded shares of Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday. Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Friday, July 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, July 12th. Finally, BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the company a “hold” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $69.41.

In related news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the transaction, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.