Highbridge Capital Management LLC Buys 66,006 Shares of Ross Stores, Inc. (ROST)

Highbridge Capital Management LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 544.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,120 shares of the apparel retailer’s stock after purchasing an additional 66,006 shares during the period. Highbridge Capital Management LLC’s holdings in Ross Stores were worth $5,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Madison Investment Holdings Inc. boosted its position in Ross Stores by 10.8% in the 3rd quarter. Madison Investment Holdings Inc. now owns 850,195 shares of the apparel retailer’s stock valued at $54,897,000 after buying an additional 82,594 shares during the last quarter. Zions Bancorporation boosted its position in Ross Stores by 338.9% in the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after buying an additional 1,637 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in Ross Stores in the 3rd quarter valued at about $608,000. Empire Life Investments Inc. boosted its position in Ross Stores by 384.3% in the 3rd quarter. Empire Life Investments Inc. now owns 338,378 shares of the apparel retailer’s stock valued at $21,849,000 after buying an additional 268,503 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Ross Stores by 0.7% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 343,320 shares of the apparel retailer’s stock valued at $22,168,000 after buying an additional 2,315 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

ROST has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, August 21st. Deutsche Bank reissued a “buy” rating and issued a $75.00 price objective on shares of Ross Stores in a research report on Monday, August 21st. Bank of America reissued a “buy” rating and issued a $80.00 price objective on shares of Ross Stores in a research report on Sunday, August 20th. Instinet reissued a “buy” rating and issued a $74.00 price objective on shares of Ross Stores in a research report on Sunday, August 20th. Finally, MKM Partners upped their price objective on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. Ross Stores presently has a consensus rating of “Buy” and an average target price of $73.71.

Ross Stores, Inc. (ROST) opened at $76.41 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. Ross Stores, Inc. has a twelve month low of $52.85 and a twelve month high of $78.81. The stock has a market cap of $29,333.53, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company posted $0.62 earnings per share. Ross Stores’s revenue was up 7.8% on a year-over-year basis. equities analysts expect that Ross Stores, Inc. will post 3.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.84%. Ross Stores’s payout ratio is currently 20.45%.

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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.

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

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