Washington Trust Bank buys $418,927 stake in Ross Stores (ROST)

Ross Stores (ROST) : Washington Trust Bank scooped up 50 additional shares in Ross Stores during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 6,497 shares of Ross Stores which is valued at $418,927.Ross Stores makes up approximately 0.10% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in ROST in the latest quarter, The investment management firm added 1,118 additional shares and now holds a total of 34,085 shares of Ross Stores which is valued at $2,197,801. Ross Stores makes up approx 0.14% of Eqis Capital Management’s portfolio.Bath Savings Trust Co reduced its stake in ROST by selling 175 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 11,030 shares of ROST which is valued at $711,214. Ross Stores makes up approx 0.22% of Bath Savings Trust Co’s portfolio.

Ross Stores opened for trading at $64.14 and hit $64.69 on the upside on Tuesday, eventually ending the session at $64.26, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 15,97,497 shares. Company has a market cap of $25,484 M.

On the company’s financial health, Ross Stores reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.67. The company had revenue of $3180.92 million for the quarter, compared to analysts expectations of $3128.94 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Ross Stores. Ross Stores was Resumed by Guggenheim to “Buy” on Sep 30, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 65 from a previous price target of $56 .Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .

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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