Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) Insider Sells 13,860 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) insider Michael K. Kobayashi sold 13,860 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the transaction, the insider now directly owns 61,657 shares in the company, valued at $9,091,941.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $143.68 on Wednesday. The stock’s fifty day simple moving average is $145.31 and its 200 day simple moving average is $132.45. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $48.38 billion, a PE ratio of 25.84, a PEG ratio of 2.09 and a beta of 1.04. Ross Stores, Inc. has a 12 month low of $99.00 and a 12 month high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current 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 paid a $0.3675 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a yield of 1.02%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s payout ratio is presently 26.44%.

Ross Stores announced that its Board of Directors has approved a share repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Ross Stores

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in shares of Ross Stores by 5.7% in the 4th quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock valued at $41,832,000 after purchasing an additional 16,167 shares during the period. NBC Securities Inc. acquired a new position in Ross Stores during the 3rd quarter worth approximately $503,000. Arrow Investment Advisors LLC bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $205,000. California Public Employees Retirement System raised its holdings in shares of Ross Stores by 4.7% in the third quarter. California Public Employees Retirement System now owns 673,713 shares of the apparel retailer’s stock valued at $76,096,000 after purchasing an additional 30,056 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Ross Stores in the third quarter worth $8,322,000. 86.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ROST has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Citigroup upped their target price on shares of Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their price target on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Evercore ISI upped their price objective on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Telsey Advisory Group raised their price target on Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.21.

Read Our Latest Stock Analysis on Ross Stores

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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