Torch Wealth Management buys $2,634,851 stake in Ross Stores (ROST)

Ross Stores (ROST) : Torch Wealth Management scooped up 5,025 additional shares in Ross Stores during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 40,655 shares of Ross Stores which is valued at $2,634,851.Ross Stores makes up approximately 1.94% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , Highland Capital Management reduced its stake in ROST by selling 6,849 shares or 58.18% in the most recent quarter. The Hedge Fund company now holds 4,924 shares of ROST which is valued at $319,124. Ross Stores makes up approx 0.03% of Highland Capital Management’s portfolio.Legal General Group Plc reduced its stake in ROST by selling 40,761 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 1,843,465 shares of ROST which is valued at $117,520,894. Ross Stores makes up approx 0.12% of Legal General Group Plc’s portfolio.British Columbia Investment Management Corp reduced its stake in ROST by selling 33,350 shares or 11.76% in the most recent quarter. The Hedge Fund company now holds 250,324 shares of ROST which is valued at $15,958,155. Ross Stores makes up approx 0.16% of British Columbia Investment Management Corp’s portfolio.

Ross Stores closed down -0.45 points or -0.70% at $63.75 with 19,44,584 shares getting traded on Tuesday. Post opening the session at $64.15, the shares hit an intraday low of $63.535 and an intraday high of $64.16 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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