Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) Director Sells 4,168 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now directly owns 3,166 shares in the company, valued at $468,219.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ross Stores Stock Down 1.0 %

ROST opened at $143.68 on Wednesday. Ross Stores, Inc. has a 12 month low of $99.00 and a 12 month high of $151.12. The business has a 50-day moving average of $145.31 and a two-hundred day moving average of $132.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The stock has a market capitalization of $48.38 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business earned $1.31 EPS. Ross Stores’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts expect that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.02%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently made changes to their positions in ROST. Raymond James & Associates increased its stake in Ross Stores by 5.7% during the fourth quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock valued at $41,832,000 after purchasing an additional 16,167 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Ross Stores during the 3rd quarter valued at about $503,000. Arrow Investment Advisors LLC acquired a new stake in Ross Stores during the second quarter worth about $205,000. California Public Employees Retirement System raised its stake in Ross Stores by 4.7% during the third quarter. California Public Employees Retirement System now owns 673,713 shares of the apparel retailer’s stock worth $76,096,000 after acquiring an additional 30,056 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Ross Stores in the third quarter worth about $8,322,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ROST. Telsey Advisory Group raised their price target on shares of Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their target price on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Citigroup upped their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Loop Capital raised their price objective on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Barclays lifted their target price on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Read Our Latest Research Report on Ross Stores

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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Insider Buying and Selling by Quarter for Ross Stores (NASDAQ:ROST)

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