Synovus Financial Corp reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,071 shares of the apparel retailer’s stock after selling 2,711 shares during the quarter. Synovus Financial Corp’s holdings in Ross Stores were worth $3,451,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ROST. Nordea Investment Management AB lifted its holdings in Ross Stores by 8,982.4% during the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after acquiring an additional 1,600,027 shares during the period. Rockefeller Financial Services Inc. bought a new stake in Ross Stores during the fourth quarter worth $117,845,000. Wells Fargo & Company MN lifted its holdings in Ross Stores by 39.2% during the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after acquiring an additional 1,029,990 shares during the period. Principal Financial Group Inc. lifted its holdings in Ross Stores by 13.1% during the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after acquiring an additional 849,789 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in Ross Stores by 10.7% during the third quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after acquiring an additional 532,900 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.
Shares of Ross Stores, Inc. (ROST) opened at $80.17 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $85.66. The stock has a market capitalization of $30,640.00, a price-to-earnings ratio of 25.61, a P/E/G ratio of 2.16 and a beta of 1.06.
ROST has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $62.00 price target on Ross Stores and gave the stock a “hold” rating in a report on Monday, October 30th. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Nomura set a $80.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Friday, November 17th. Telsey Advisory Group restated a “buy” rating on shares of Ross Stores in a research note on Friday, November 17th. Finally, Buckingham Research boosted their target price on Ross Stores from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $73.90.
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Ross Stores 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.
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