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

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

Several other analysts have also recently issued reports on the stock. Robert W. Baird increased their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Citigroup increased their price target 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. Jefferies Financial Group increased their price target on shares of Ross Stores from $135.00 to $147.00 and gave the stock a hold rating in a research report on Wednesday, March 6th. Morgan Stanley raised their target price on shares of Ross Stores from $159.00 to $161.00 and gave the company an overweight rating in a report on Friday. Finally, Loop Capital raised their target price on shares of Ross Stores from $150.00 to $170.00 and gave the company a buy rating in a report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $156.58.

Ross Stores Trading Up 7.8 %

NASDAQ ROST opened at $142.13 on Friday. The firm’s 50-day moving average is $136.85 and its two-hundred day moving average is $137.76. Ross Stores has a 12 month low of $100.66 and a 12 month high of $151.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The stock has a market capitalization of $47.86 billion, a P/E ratio of 23.97, a PEG ratio of 2.14 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last posted its 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. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.95%. Ross Stores’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, sell-side analysts anticipate that Ross Stores will post 5.93 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 24.79%.

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

Insider Activity

In other news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares in the company, valued at $468,219.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the sale, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock worth $123,000 after acquiring an additional 73 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 74 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Ross Stores by 9.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after acquiring an additional 76 shares in the last quarter. Greenleaf Trust raised its position in Ross Stores by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock worth $710,000 after acquiring an additional 80 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.