Investors sold shares of Ross Stores, Inc. (NASDAQ:ROST) on strength during trading hours on Monday after an insider sold shares in the company. $31.96 million flowed into the stock on the tick-up and $52.03 million flowed out of the stock on the tick-down, for a money net flow of $20.07 million out of the stock. Of all companies tracked, Ross Stores had the 0th highest net out-flow for the day. Ross Stores traded up $0.29 for the day and closed at $77.04Specifically, Chairman Michael Balmuth sold 59,777 shares of Ross Stores stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.53, for a total value of $4,574,733.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Hartshorn sold 3,361 shares of Ross Stores stock in a transaction on Friday, March 16th. The shares were sold at an average price of $76.94, for a total transaction of $258,595.34. Following the completion of the transaction, the vice president now directly owns 79,158 shares in the company, valued at $6,090,416.52. The disclosure for this sale can be found here. Insiders sold a total of 123,414 shares of company stock worth $9,470,574 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.
ROST has been the topic of a number of recent research reports. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a report on Friday, February 2nd. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Nomura reaffirmed a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Ross Stores in a report on Wednesday, January 17th. Susquehanna Bancshares set a $95.00 target price on shares of Ross Stores and gave the company a “buy” rating in a report on Wednesday, March 7th. Finally, Deutsche Bank set a $92.00 target price on shares of Ross Stores and gave the company a “buy” rating in a report on Wednesday, March 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.86.
The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64. The firm has a market capitalization of $29,329.71, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. equities research analysts forecast that Ross Stores, Inc. will post 4.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be given a dividend of $0.225 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, March 16th. Ross Stores’s payout ratio is presently 25.35%.
Ross Stores announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Novare Capital Management LLC boosted its position in shares of Ross Stores by 4.4% during the 4th quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after purchasing an additional 640 shares in the last quarter. Daiwa SB Investments Ltd. boosted its position in shares of Ross Stores by 5.1% during the 4th quarter. Daiwa SB Investments Ltd. now owns 13,750 shares of the apparel retailer’s stock worth $1,103,000 after purchasing an additional 670 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in shares of Ross Stores by 15.8% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock worth $430,000 after purchasing an additional 730 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Ross Stores by 5.2% during the 3rd quarter. Private Advisor Group LLC now owns 16,256 shares of the apparel retailer’s stock worth $1,061,000 after purchasing an additional 806 shares in the last quarter. Finally, BB&T Investment Services Inc. boosted its position in shares of Ross Stores by 7.1% during the 4th quarter. BB&T Investment Services Inc. now owns 13,861 shares of the apparel retailer’s stock worth $1,128,000 after purchasing an additional 920 shares in the last quarter. Institutional investors own 89.57% of the company’s stock.
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Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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