Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at approximately $17,760,529.79. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Ross Stores Price Performance
Shares of NASDAQ ROST opened at $127.70 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The company has a market capitalization of $42.13 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.13 and a beta of 1.15. The business has a 50-day moving average of $138.68 and a 200-day moving average of $145.14.
Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, equities analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.
Ross Stores Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's payout ratio is currently 25.63%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. BMO Capital Markets cut their price target on Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group reduced their target price on Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company restated a "negative" rating on shares of Ross Stores in a report on Wednesday, March 5th. Robert W. Baird cut their price objective on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Finally, Loop Capital lowered their target price on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and a consensus target price of $161.40.
Get Our Latest Research Report on ROST
Hedge Funds Weigh In On Ross Stores
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Ross Stores by 8.3% in the third quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer's stock worth $295,857,000 after acquiring an additional 151,255 shares in the last quarter. Nwam LLC increased its holdings in Ross Stores by 16.1% during the 3rd quarter. Nwam LLC now owns 1,651 shares of the apparel retailer's stock worth $248,000 after purchasing an additional 229 shares during the last quarter. Cerity Partners LLC raised its position in shares of Ross Stores by 65.2% in the 3rd quarter. Cerity Partners LLC now owns 83,214 shares of the apparel retailer's stock valued at $12,525,000 after purchasing an additional 32,846 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Ross Stores by 11.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,894 shares of the apparel retailer's stock valued at $436,000 after buying an additional 302 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Ross Stores by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 62,361 shares of the apparel retailer's stock worth $9,386,000 after buying an additional 6,499 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.
About Ross Stores
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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 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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