Ross Stores (NASDAQ:ROST) Director Sharon D. Garrett sold 26,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total transaction of $2,003,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ross Stores stock opened at $77.45 on Friday. The stock has a market cap of $29,331.32, a PE ratio of 23.19, a PEG ratio of 1.92 and a beta of 1.08. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. research analysts expect that Ross Stores will post 4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, March 16th. 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%. Ross Stores’s payout ratio is currently 26.95%.
Ross Stores declared that its board has authorized a stock repurchase program on Tuesday, March 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in ROST. Amundi Pioneer Asset Management Inc. increased its stake in shares of Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares during the last quarter. Nordea Investment Management AB grew its stake in Ross Stores by 8,982.4% in the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock valued at $104,464,000 after buying an additional 1,600,027 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in Ross Stores in the 4th quarter valued at about $117,845,000. Wells Fargo & Company MN grew its stake in Ross Stores by 39.2% in the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock valued at $236,257,000 after buying an additional 1,029,990 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Ross Stores by 58.1% in the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock valued at $160,922,000 after buying an additional 736,599 shares during the last quarter. Institutional investors own 89.58% of the company’s stock.
Several research firms recently commented on ROST. BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Ross Stores in a research report on Wednesday, March 7th. Jefferies Group reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Ross Stores in a research report on Wednesday, March 7th. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a research report on Friday, February 2nd. Morgan Stanley boosted their price objective on shares of Ross Stores from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, March 7th. Finally, BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Friday, March 30th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $81.86.
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About Ross Stores
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. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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