Ross Stores (NASDAQ:ROST) PT Raised to $147.00

Ross Stores (NASDAQ:ROST) had its price target upped by UBS Group from $145.00 to $147.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the apparel retailer’s stock.

ROST has been the subject of several other research reports. Barclays raised their target price on shares of Ross Stores from $160.00 to $163.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Guggenheim upped their price objective on shares of Ross Stores from $140.00 to $165.00 and gave the company a buy rating in a report on Wednesday, March 6th. Loop Capital lifted their price target on shares of Ross Stores from $150.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Jefferies Financial Group lifted their target price on shares of Ross Stores from $135.00 to $147.00 and gave the company a hold rating in a report on Wednesday, March 6th. Finally, Evercore ISI upped their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an outperform rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $156.58.

Ross Stores Trading Up 7.8 %

ROST traded up $10.27 during mid-day trading on Friday, reaching $142.13. The stock had a trading volume of 7,641,385 shares, compared to its average volume of 2,725,999. The firm’s fifty day simple moving average is $136.85 and its two-hundred day simple moving average is $137.56. Ross Stores has a 52 week low of $100.66 and a 52 week high of $151.12. The stock has a market capitalization of $47.86 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.99 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.95%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Ross Stores will post 5.89 EPS for the current year.

Ross Stores announced that its Board of Directors has initiated a share buyback program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Ross Stores Dividend Announcement

The business also recently disclosed 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 is Tuesday, June 11th. This represents a $1.47 annualized dividend and a dividend yield of 1.03%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Insiders Place Their Bets

In related news, CMO Brian R. Morrow sold 10,734 shares of the 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 completion of the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the transaction, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,097 shares of company stock worth $10,396,178. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Ross Stores in the fourth quarter worth about $523,185,000. First Trust Advisors LP raised its position in shares of Ross Stores by 515.8% in the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock worth $243,135,000 after acquiring an additional 1,471,585 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Ross Stores by 1,437.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock worth $142,039,000 after acquiring an additional 959,594 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Ross Stores in the fourth quarter worth about $102,083,000. Finally, Wellington Management Group LLP raised its position in shares of Ross Stores by 19.5% in the third quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after acquiring an additional 673,670 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

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 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.