Ross Stores, Inc. (NASDAQ:ROST) Receives $156.58 Average PT from Brokerages

Shares of Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $156.58.

ROST has been the subject of a number of research reports. TD Cowen increased their price target on Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Guggenheim raised their target price on Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Wells Fargo & Company raised their target price on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group raised their target price on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, 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 research report on Wednesday, March 6th.

Read Our Latest Analysis on ROST

Insider Activity

In other news, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the sale, the chief marketing officer now directly owns 62,711 shares in the company, valued at approximately $9,155,806. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Ross Stores news, COO Michael J. Hartshorn sold 19,014 shares of Ross Stores stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.39, for a total transaction of $2,783,459.46. Following the completion of the transaction, the chief operating officer now owns 119,962 shares in the company, valued at approximately $17,561,237.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. Insiders sold a total of 48,717 shares of company stock worth $7,141,031 in the last three months. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds have recently added to or reduced their stakes in ROST. Atria Wealth Solutions Inc. boosted its stake in Ross Stores by 1.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock valued at $600,000 after purchasing an additional 85 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Ross Stores by 191.3% during the 3rd quarter. Blair William & Co. IL now owns 19,505 shares of the apparel retailer’s stock worth $2,203,000 after buying an additional 12,809 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Ross Stores by 5,928.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,266 shares of the apparel retailer’s stock worth $143,000 after buying an additional 1,245 shares in the last quarter. Aviva PLC lifted its position in shares of Ross Stores by 148.4% during the 3rd quarter. Aviva PLC now owns 47,105 shares of the apparel retailer’s stock worth $5,321,000 after buying an additional 28,140 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of Ross Stores by 23.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,389 shares of the apparel retailer’s stock worth $1,286,000 after buying an additional 2,197 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Up 1.3 %

Shares of ROST opened at $149.29 on Friday. Ross Stores has a 52 week low of $106.98 and a 52 week high of $151.12. The stock has a market capitalization of $49.80 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.58 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The stock has a fifty day moving average of $137.23 and a 200-day moving average of $139.87.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company earned $1.09 EPS. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio is presently 24.79%.

Ross Stores announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 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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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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