Suvretta Capital Management adds Ross Stores (ROST) to its portfolio

Ross Stores (ROST) : Suvretta Capital Management added new position in Ross Stores during the most recent quarter end. The investment management firm now holds 1,161,000 shares of Ross Stores which is valued at $73,282,320 , the company said in a statement filed on Aug 15, 2016 with the SEC.Ross Stores makes up approximately 3.10% of Suvretta Capital Management’s portfolio.

Other Hedge Funds, Including , Lombard Odier Asset Management (switzerland) Sa reduced its stake in ROST by selling 13,353 shares or 75.21% in the most recent quarter. The Hedge Fund company now holds 4,402 shares of ROST which is valued at $277,854. Ross Stores makes up approx 0.03% of Lombard Odier Asset Management (switzerland) Sa’s portfolio.Tcw Group Inc boosted its stake in ROST in the latest quarter, The investment management firm added 825 additional shares and now holds a total of 32,300 shares of Ross Stores which is valued at $2,038,776. Ross Stores makes up approx 0.01% of Tcw Group Inc’s portfolio.Ingalls Snyder reduced its stake in ROST by selling 1 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 4,189 shares of ROST which is valued at $264,410. Ross Stores makes up approx 0.01% of Ingalls Snyder’s portfolio.Mutual Of America Capital Management boosted its stake in ROST in the latest quarter, The investment management firm added 15,569 additional shares and now holds a total of 60,298 shares of Ross Stores which is valued at $3,697,473. Ross Stores makes up approx 0.08% of Mutual Of America Capital Management’s portfolio.

Ross Stores opened for trading at $62.46 and hit $62.51 on the upside on Thursday, eventually ending the session at $62.38, with a gain of 0.22% or 0.14 points. The heightened volatility saw the trading volume jump to 18,13,488 shares. Company has a market cap of $24,921 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. 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 .Miller Tabak Initiated Ross Stores on Jun 24, 2016 to “Buy”, Price Target of the shares are set at $66.

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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