Ross Stores, Inc. (NASDAQ:ROST) saw a significant decrease in short interest in November. As of November 29th, there was short interest totalling 3,840,000 shares, a decrease of 7.9% from the November 14th total of 4,170,000 shares. Based on an average daily volume of 1,830,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.1% of the company’s shares are short sold.
In other Ross Stores news, insider James S. Fassio sold 15,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $108.66, for a total transaction of $1,629,900.00. Also, CEO Barbara Rentler sold 25,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.01, for a total value of $2,750,250.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ROST. KBC Group NV lifted its holdings in shares of Ross Stores by 29.9% during the 2nd quarter. KBC Group NV now owns 115,512 shares of the apparel retailer’s stock valued at $11,450,000 after purchasing an additional 26,618 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Ross Stores by 14.9% during the 2nd quarter. Advisor Group Inc. now owns 38,101 shares of the apparel retailer’s stock valued at $3,778,000 after purchasing an additional 4,948 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Ross Stores by 11.0% during the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the apparel retailer’s stock valued at $186,000 after purchasing an additional 186 shares during the last quarter. Wedbush Securities Inc. raised its stake in Ross Stores by 2.5% in the 2nd quarter. Wedbush Securities Inc. now owns 4,779 shares of the apparel retailer’s stock worth $474,000 after acquiring an additional 118 shares during the last quarter. Finally, Keybank National Association OH raised its stake in Ross Stores by 96.4% in the 2nd quarter. Keybank National Association OH now owns 19,715 shares of the apparel retailer’s stock worth $1,954,000 after acquiring an additional 9,675 shares during the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Shares of ROST traded down $0.96 during midday trading on Friday, hitting $115.49. 1,282,511 shares of the company’s stock traded hands, compared to its average volume of 1,943,532. Ross Stores has a 1 year low of $75.91 and a 1 year high of $117.58. The firm’s fifty day moving average is $112.79 and its 200-day moving average is $106.66. The company has a current ratio of 1.26, a quick ratio of 0.50 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $41.54 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. Ross Stores had a return on equity of 49.88% and a net margin of 10.47%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Ross Stores will post 4.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.255 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.02 annualized dividend and a dividend yield of 0.88%. Ross Stores’s dividend payout ratio is presently 23.94%.
A number of analysts have weighed in on the company. Wells Fargo & Co upped their target price on Ross Stores from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. They noted that the move was a valuation call. Guggenheim upped their target price on Ross Stores from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. ValuEngine lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Credit Suisse Group upped their target price on Ross Stores from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Nomura assumed coverage on Ross Stores in a report on Thursday, November 7th. They set a “neutral” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $114.50.
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 brands. Its stores primarily offers 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 regular prices to customers from households with moderate income.
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