Ross Stores (NASDAQ:ROST) Shares Gap Down to $114.13

Ross Stores, Inc. (NASDAQ:ROST)’s share price gapped down prior to trading on Monday . The stock had previously closed at $116.77, but opened at $114.13. Ross Stores shares last traded at $110.98, with a volume of 2,864,331 shares changing hands.

A number of analysts recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and issued a $114.00 price target (up previously from $108.00) on shares of Ross Stores in a report on Friday, August 23rd. Citigroup lifted their target price on shares of Ross Stores from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group set a $100.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a report on Friday, August 23rd. Guggenheim set a $120.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, ValuEngine lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $109.78.

The business’s fifty day simple moving average is $109.30 and its 200 day simple moving average is $102.80. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Ross Stores had a net margin of 10.46% and a return on equity of 49.21%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, research analysts anticipate that Ross Stores, Inc. will post 4.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.93%. Ross Stores’s dividend payout ratio is 23.94%.

In other news, insider James S. Fassio sold 15,000 shares of Ross Stores stock in a transaction on Thursday, September 19th. The shares were 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 Ross Stores stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $107.06, for a total transaction of $2,676,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,000 shares of company stock worth $7,056,650. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ROST. Krane Funds Advisors LLC bought a new stake in Ross Stores in the 2nd quarter valued at $25,000. Redhawk Wealth Advisors Inc. bought a new stake in Ross Stores in the 2nd quarter valued at $31,000. Litman Gregory Asset Management LLC bought a new stake in Ross Stores in the 2nd quarter valued at $32,000. First Financial Corp IN bought a new stake in Ross Stores in the 3rd quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA lifted its position in Ross Stores by 27.3% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 629 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 135 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

About Ross Stores (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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