Ross Stores (NASDAQ:ROST) Reaches New 1-Year High at $127.50


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Ross Stores, Inc. (NASDAQ:ROST) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $127.50 and last traded at $127.08, with a volume of 45767 shares traded. The stock had previously closed at $123.41.

ROST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Ross Stores from $123.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, January 21st. Morgan Stanley increased their target price on Ross Stores from $121.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 20th. JPMorgan Chase & Co. increased their target price on Ross Stores from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, January 4th. Finally, UBS Group dropped their target price on Ross Stores from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, March 11th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $117.05.

The stock has a 50 day moving average price of $119.88 and a two-hundred day moving average price of $110.78. The company has a current ratio of 1.65, a quick ratio of 1.24 and a debt-to-equity ratio of 0.83. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 146.92, a P/E/G ratio of 8.16 and a beta of 0.95.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Monday, March 1st. The apparel retailer reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.33). The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.27 billion. Ross Stores had a net margin of 2.39% and a return on equity of 22.57%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. On average, equities analysts forecast that Ross Stores, Inc. will post 1.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Tuesday, March 16th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, March 15th. Ross Stores’s dividend payout ratio (DPR) is currently 24.89%.

In related news, CEO Barbara Rentler sold 69,407 shares of the firm’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $111.70, for a total transaction of $7,752,761.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Travis Marquette sold 951 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $122.62, for a total value of $116,611.62. Following the sale, the chief financial officer now directly owns 71,271 shares in the company, valued at approximately $8,739,250.02. The disclosure for this sale can be found here. Insiders have sold a total of 212,110 shares of company stock worth $25,291,415 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Ross Stores in the 3rd quarter valued at about $416,000. Peapack Gladstone Financial Corp raised its stake in shares of Ross Stores by 9.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,175 shares of the apparel retailer’s stock valued at $296,000 after purchasing an additional 266 shares during the period. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Ross Stores in the 3rd quarter valued at about $573,000. Point72 Asset Management L.P. raised its stake in shares of Ross Stores by 57.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 964,545 shares of the apparel retailer’s stock valued at $90,011,000 after purchasing an additional 351,727 shares during the period. Finally, Colony Group LLC raised its stake in shares of Ross Stores by 17.8% in the 3rd quarter. Colony Group LLC now owns 302,775 shares of the apparel retailer’s stock valued at $28,255,000 after purchasing an additional 45,751 shares during the period. 83.15% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Company Profile (NASDAQ:ROST)

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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