Ross Stores (NASDAQ:ROST) Chairman Michael Balmuth sold 59,777 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which can be accessed through this link.
Michael Balmuth also recently made the following trade(s):
- On Friday, March 16th, Michael Balmuth sold 25,689 shares of Ross Stores stock. The shares were sold at an average price of $76.84, for a total value of $1,973,942.76.
Shares of NASDAQ:ROST traded down $2.32 during trading on Friday, hitting $77.45. The stock had a trading volume of 3,053,746 shares, compared to its average volume of 2,667,887. Ross Stores has a 12-month low of $52.85 and a 12-month high of $85.66. The stock has a market cap of $29,331.32, a price-to-earnings ratio of 23.19, a PEG ratio of 1.92 and a beta of 1.08. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.95 billion. equities analysts anticipate that Ross Stores will post 4.03 EPS for the current fiscal year.
Ross Stores declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the apparel retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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 $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 16th. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.
A number of equities research analysts recently weighed in on ROST shares. Susquehanna Bancshares set a $95.00 price objective on Ross Stores and gave the company a “buy” rating in a research report on Wednesday, March 7th. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Loop Capital started coverage on Ross Stores in a research report on Thursday, March 8th. They set a “buy” rating and a $85.00 price objective on the stock. Cowen set a $85.00 price objective on Ross Stores and gave the company a “buy” rating in a research report on Tuesday, March 6th. Finally, Credit Suisse Group started coverage on Ross Stores in a research report on Monday, March 12th. They set an “outperform” rating and a $88.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Ross Stores currently has an average rating of “Buy” and a consensus price target of $81.86.
Several large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in Ross Stores by 5.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,653 shares of the apparel retailer’s stock valued at $5,789,000 after acquiring an additional 5,031 shares in the last quarter. Boston Partners purchased a new position in Ross Stores during the third quarter valued at approximately $3,515,000. BNP Paribas Arbitrage SA raised its position in Ross Stores by 93.2% during the third quarter. BNP Paribas Arbitrage SA now owns 178,151 shares of the apparel retailer’s stock valued at $11,503,000 after acquiring an additional 85,922 shares in the last quarter. CIBC Asset Management Inc raised its position in Ross Stores by 1.4% during the third quarter. CIBC Asset Management Inc now owns 86,012 shares of the apparel retailer’s stock valued at $5,554,000 after acquiring an additional 1,209 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Ross Stores by 29.0% during the third quarter. New York State Common Retirement Fund now owns 1,539,044 shares of the apparel retailer’s stock valued at $99,376,000 after acquiring an additional 345,964 shares in the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.
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Ross Stores Company Profile
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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