Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) Director Sells $616,405.52 in Stock

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ross Stores Stock Down 1.0 %

NASDAQ:ROST opened at $143.68 on Wednesday. The firm has a market capitalization of $48.38 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. Ross Stores, Inc. has a twelve month low of $99.00 and a twelve month high of $151.12. The stock’s 50 day moving average price is $145.31 and its two-hundred day moving average price is $132.45. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 EPS. Equities research analysts expect that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.3675 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. This represents a $1.47 annualized dividend and a dividend yield of 1.02%. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its board has authorized a stock buyback program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Ross Stores by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 28,569,718 shares of the apparel retailer’s stock worth $3,953,763,000 after acquiring an additional 381,790 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ross Stores by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 7,361,375 shares of the apparel retailer’s stock worth $779,543,000 after acquiring an additional 125,519 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ross Stores by 21.0% during the 1st quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock worth $640,624,000 after acquiring an additional 1,048,817 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Ross Stores by 14.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,355,761 shares of the apparel retailer’s stock worth $600,541,000 after acquiring an additional 662,825 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Ross Stores by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after acquiring an additional 161,202 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ROST shares. Wells Fargo & Company raised their target price on Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Robert W. Baird raised their target price on Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. UBS Group raised their target price on Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. raised their target price on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Jefferies Financial Group raised their target price on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Get Our Latest Stock Report on ROST

Ross Stores Company Profile

(Get Free Report)

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 primarily 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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Insider Buying and Selling by Quarter for Ross Stores (NASDAQ:ROST)

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