Ross Stores, Inc. (NASDAQ:ROST) COO Michael J. Hartshorn Sells 19,014 Shares

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) COO Michael J. Hartshorn sold 19,014 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total transaction of $2,783,459.46. Following the sale, the chief operating officer now directly owns 119,962 shares of the company’s stock, valued at $17,561,237.18. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ross Stores Stock Down 0.3 %

NASDAQ:ROST opened at $146.76 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $144.99 and a 200-day simple moving average of $131.86. The company has a market cap of $49.41 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. Ross Stores, Inc. has a twelve month low of $99.00 and a twelve month high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores announced that its board has authorized a stock repurchase plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.3675 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, March 14th. Ross Stores’s payout ratio is presently 26.44%.

Hedge Funds Weigh In On Ross Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new position in Ross Stores in the first quarter worth about $87,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ross Stores during the first quarter valued at about $200,000. Cibc World Market Inc. increased its holdings in shares of Ross Stores by 5.7% during the first quarter. Cibc World Market Inc. now owns 20,004 shares of the apparel retailer’s stock valued at $1,810,000 after acquiring an additional 1,085 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Ross Stores by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 12,174 shares of the apparel retailer’s stock valued at $1,128,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Ross Stores by 0.9% during the first quarter. Sei Investments Co. now owns 163,788 shares of the apparel retailer’s stock valued at $14,826,000 after acquiring an additional 1,470 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROST. Jefferies Financial Group raised their target price on shares of Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Telsey Advisory Group raised their target price on shares of Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price target on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen raised their price target on Ross Stores from $144.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Guggenheim raised their price target on Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Read Our Latest Report on ROST

Ross Stores Company Profile

(Get Free Report)

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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