Why Wedgewood Partners sold Ross Stores (ROST) stock?

Wedgewood Partners, a St. Louis, Missouri-based investment management firm, released its Q1 2020 Investor letter – a copy of which is available for download here. Wedgewood Partners returned -16.30% for the first quarter. Meanwhile, the benchmark Russell 1000 Growth Index and the S&P 500 Index lost 14.10% and 19.60%, respectively.

In the said letter, Wedgewood Partners highlighted a few stocks and Ross Stores Inc. (NASDAQ:ROST) is one of them. Ross Stores engages in the operation of...