Ross Stores, Inc. (NASDAQ:ROST – Get Rating) shares gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $130.00 to $125.00. The stock had previously closed at $105.38, but opened at $100.91. Ross Stores shares last traded at $104.57, with a volume of 1,805,201 shares changing hands.
Several other equities analysts also recently commented on the company. Citigroup boosted their price objective on Ross Stores from $116.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. StockNews.com started coverage on Ross Stores in a report on Thursday. They issued a “buy” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $120.00 price target on shares of Ross Stores in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Ross Stores from $121.00 to $120.00 in a report on Wednesday, March 1st. Finally, Loop Capital upgraded Ross Stores from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $115.00 in a report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.76.
Insider Buying and Selling
In related news, insider Michael K. Kobayashi sold 12,221 shares of Ross Stores stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $106.00, for a total transaction of $1,295,426.00. Following the completion of the sale, the insider now owns 96,486 shares of the company’s stock, valued at $10,227,516. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ross Stores news, insider Michael K. Kobayashi sold 12,221 shares of the business’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $106.00, for a total value of $1,295,426.00. Following the completion of the transaction, the insider now directly owns 96,486 shares of the company’s stock, valued at $10,227,516. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey P. Burrill sold 3,297 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $104.73, for a total value of $345,294.81. Following the transaction, the chief accounting officer now directly owns 23,148 shares of the company’s stock, valued at $2,424,290.04. The disclosure for this sale can be found here. Insiders sold 36,047 shares of company stock valued at $3,947,565 over the last quarter. 2.00% of the stock is currently owned by company insiders.
Institutional Trading of Ross Stores
Large investors have recently made changes to their positions in the company. Accurate Wealth Management LLC purchased a new stake in Ross Stores during the 4th quarter worth approximately $25,000. Arlington Partners LLC purchased a new stake in Ross Stores during the 4th quarter worth approximately $28,000. Resurgent Financial Advisors LLC purchased a new stake in Ross Stores during the 4th quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of Ross Stores in the 1st quarter valued at approximately $29,000. Finally, Capital Directions Investment Advisors LLC purchased a new stake in shares of Ross Stores in the 4th quarter valued at approximately $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores Stock Performance
The stock’s 50-day simple moving average is $104.28 and its 200 day simple moving average is $109.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.90. The company has a market capitalization of $35.61 billion, a PE ratio of 23.69, a P/E/G ratio of 2.01 and a beta of 0.97.
Ross Stores (NASDAQ:ROST – Get Rating) last announced its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Ross Stores had a net margin of 8.09% and a return on equity of 36.40%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts expect that Ross Stores, Inc. will post 4.91 earnings per share for the current fiscal year.
Ross Stores Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 6th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, June 5th. Ross Stores’s payout ratio is 30.52%.
Ross Stores Company Profile
Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.