3. Ross Stores Inc. (NASDAQ:ROST)
Investors with Long Positions (as of June 30): 35
Aggregate Value of Investors’ Holdings (as of June 30): $723.21 Million
The number of hedge funds with Ross Stores Inc. (NASDAQ:ROST) in their portfolios remained unchanged at 35 during the recent quarter, whereas the value of their total investment decreased from $824.71 million. The company that operates two brands of off-price retail apparel and home fashion stores has had a strong run over the last few months in terms of organic growth. Ross Stores reported same-store sales growth of 4% in the fiscal second quarter of 2016 that ended August 1. This growth is partially reflected in the company’s stock performance, as its shares have gained nearly 5% since the beginning of the year. John Tompkins’ Tyvor Capital initiated a 324,672-share position in Ross Stores Inc. (NASDAQ:ROST) during the recent quarter.
2. Dollar Tree Inc. (NASDAQ:DLTR)
Investors with Long Positions (as of June 30): 60
Aggregate Value of Investors’ Holdings (as of June 30): $3.31 Billion
Dollar Tree Inc. (NASDAQ:DLTR) is another quality stock pinpointed by Goldman Sachs, but one that has plummeted by 16% over the last month. Just recently, Credit Suisse downgraded Dollar Tree to “Underperform” from “Neutral” and reduced its price target to $60 from $70, suggesting that the company’s acquisition of Family Dollar bears some significant risks. In the meantime, the total number of hedge funds tracked by our team with positions in Dollar Tree decreased to 60 from 63 during the second quarter. Similarly, the value of these positions shrank from $3.77 billion over the same period. Phill Gross and Robert Atchinson’s Adage Capital Management more than doubled its stake in Dollar Tree Inc. (NASDAQ:DLTR) during the second quarter to 2.64 million shares.
1. Priceline Group Inc (NASDAQ:PCLN)
Investors with Long Positions (as of June 30): 71
Aggregate Value of Investors’ Holdings (as of June 30): $7.67 Billion
Priceline Group Inc (NASDAQ:PCLN) is the best quality stock from Goldman Sachs’ list, receiving a quality score of 95, and also the top-ranked stock on the list in terms of hedge fund ownership. There were 71 hedge funds tracked by Insider Monkey owning stakes in the company at the end of the second quarter, though this was down by 11 from the start of the period. However, the value of the total stakes augmented during this period to $7.67 billion from $7.46 billion. The shares of Priceline Group have delivered a relatively strong performance this year, and the recent broader market selloff has not stopped them from delivering a return of almost 13% year-to-date. Earlier this month, the company announced the acquisition of AS Digital, which is a leading provider of restaurant table and reservation management solutions. The freshly-acquired AS Digital will be fed into OpenTable’s operations, which was acquired last year, and is expected to accelerate OpenTable’s penetration into the Australian market. Tiger Global Management, founded by Chase Coleman, increased its stake in Priceline Group Inc (NASDAQ:PCLN) by 76% during the second quarter to 727,939 shares.
Disclosure: None
