Convergence Financial LLC Decreases Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Convergence Financial LLC cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,553 shares of the apparel retailer’s stock after selling 88 shares during the period. Convergence Financial LLC’s holdings in Ross Stores were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after buying an additional 191 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Ross Stores during the fourth quarter worth about $51,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ross Stores in the third quarter valued at about $53,000. Oakworth Capital Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $57,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Ross Stores in the third quarter valued at approximately $59,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROST has been the topic of a number of recent research reports. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $140.00 price objective (down from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Sanford C. Bernstein reiterated a “market perform” rating and set a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their target price on shares of Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Citigroup cut shares of Ross Stores from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and an average target price of $169.06.

Ross Stores Trading Down 0.5 %

Shares of ROST opened at $138.02 on Friday. The stock’s fifty day simple moving average is $146.97 and its 200 day simple moving average is $147.77. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $45.54 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10.

Ross Stores Company Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.