Michael K. Kobayashi Sells 13,860 Shares of Ross Stores, Inc. (NASDAQ:ROST) Stock

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the transaction, the insider now owns 61,657 shares in the company, valued at $9,091,941.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ross Stores Stock Down 1.0 %

ROST opened at $143.68 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The company has a market cap of $48.38 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.09 and a beta of 1.04. Ross Stores, Inc. has a one year low of $99.00 and a one year high of $151.12. The business’s fifty day moving average is $145.31 and its two-hundred day moving average is $132.45.

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

Ross Stores declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is 26.44%.

Analyst Ratings Changes

ROST has been the subject of several recent research reports. Morgan Stanley increased their price target on Ross Stores from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. UBS Group raised their target price on shares of Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. BMO Capital Markets boosted their price target on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Wells Fargo & Company raised their price objective on shares of Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Finally, Evercore ISI lifted their price objective on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Read Our Latest Stock Report on Ross Stores

Institutional Investors Weigh In On Ross Stores

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 83 shares in the last quarter. First Capital Advisors Group LLC. acquired a new position in Ross Stores in the 2nd quarter valued at about $27,000. Resurgent Financial Advisors LLC purchased a new position in Ross Stores in the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. lifted its holdings in Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Ross Stores during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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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