North Point Portfolio Managers Corpoh Lowers stake in Ross Stores (ROST)

Ross Stores (ROST) : North Point Portfolio Managers Corpoh reduced its stake in Ross Stores by 1.83% during the most recent quarter end. The investment management company now holds a total of 223,757 shares of Ross Stores which is valued at $13,736,442 after selling 4,182 shares in Ross Stores , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ross Stores makes up approximately 2.62% of North Point Portfolio Managers Corpoh’s portfolio.

Other Hedge Funds, Including , Boston Advisors reduced its stake in ROST by selling 400 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 40,476 shares of ROST which is valued at $2,484,822. Ross Stores makes up approx 0.06% of Boston Advisors’s portfolio.Meeder Asset Management Inc reduced its stake in ROST by selling 12,858 shares or 48.95% in the most recent quarter. The Hedge Fund company now holds 13,407 shares of ROST which is valued at $804,018. Ross Stores makes up approx 0.07% of Meeder Asset Management Inc’s portfolio.Jlb Associates Inc reduced its stake in ROST by selling 1,190 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 153,541 shares of ROST which is valued at $9,207,854. Ross Stores makes up approx 2.53% of Jlb Associates Inc’s portfolio.Atria Investments reduced its stake in ROST by selling 1,353 shares or 14.61% in the most recent quarter. The Hedge Fund company now holds 7,906 shares of ROST which is valued at $458,864. Ross Stores makes up approx 0.05% of Atria Investments’s portfolio. Centurylink Investment Management Co sold out all of its stake in ROST during the most recent quarter. The investment firm sold 5,483 shares of ROST which is valued $319,056.

Ross Stores opened for trading at $61.31 and hit $61.89 on the upside on Friday, eventually ending the session at $61.83, with a gain of 0.82% or 0.5 points. The heightened volatility saw the trading volume jump to 21,59,743 shares. Company has a market cap of $24,702 M.

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. Miller Tabak Initiated Ross Stores on Jun 24, 2016 to “Buy”, Price Target of the shares are set at $66.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 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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