Northroad Capital Management Lowers stake in Ross Stores (ROST)

Ross Stores (ROST) : Northroad Capital Management reduced its stake in Ross Stores by 17.38% during the most recent quarter end. The investment management company now holds a total of 8,428 shares of Ross Stores which is valued at $457,809 after selling 1,773 shares in Ross Stores , the firm said in a disclosure report filed with the SEC on May 12, 2016.Ross Stores makes up approximately 0.31% of Northroad Capital Management’s portfolio.

Other Hedge Funds, Including , Meeder Asset Management Inc added ROST to its portfolio by purchasing 26,265 company shares during the most recent quarter which is valued at $1.4 Million. Ross Stores makes up approx 0.14% of Meeder Asset Management Inc’s portfolio.Schwartz Investment Counsel Inc reduced its stake in ROST by selling 236,930 shares or 40.98% in the most recent quarter. The Hedge Fund company now holds 341,220 shares of ROST which is valued at $18.5 Million. Ross Stores makes up approx 1.38% of Schwartz Investment Counsel Inc’s portfolio.California Public Employees Retirement System reduced its stake in ROST by selling 26,500 shares or 2.31% in the most recent quarter. The Hedge Fund company now holds 1,118,476 shares of ROST which is valued at $63.8 Million. Ross Stores makes up approx 0.10% of California Public Employees Retirement System’s portfolio. Wellington Shields Capital Management added ROST to its portfolio by purchasing 23,350 company shares during the most recent quarter which is valued at $1.3 Million. Ross Stores makes up approx 0.23% of Wellington Shields Capital Management’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in ROST by selling 8,641 shares or 10.43% in the most recent quarter. The Hedge Fund company now holds 74,183 shares of ROST which is valued at $4.2 Million. Ross Stores makes up approx 0.11% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Ross Stores closed down -3.03 points or -5.46% at $52.49 with 1,15,95,431 shares getting traded on Friday. Post opening the session at $52.05, the shares hit an intraday low of $52 and an intraday high of $53.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Ross Stores reported $0.73 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.73. The company had revenue of $3089.00 million for the quarter, compared to analysts expectations of $3115.64 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Many Wall Street Analysts have commented on Ross Stores. Shares were Reiterated by Wedbush on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 62 from a previous price target of $63 .Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Sector Perform” and Lowered the Price Target to $ 56 from a previous price target of $58 .Ross Stores was Downgraded by Piper Jaffray to ” Underweight” on May 11, 2016.

Ross Stores Inc. is an off-price retailer of name brand and designer apparel accessories footwear and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31 2014 the Company operated 1210 Ross locations in 33 states the District of Columbia and Guam and 152 dd’s DISCOUNTS stores in 15 states. The Ross and dd’s DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross’ target customers are primarily from middle income households. The dd’s DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.

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