Ross Stores (NASDAQ:ROST) Hits New 52-Week High at $152.66

Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $152.66 and last traded at $151.66, with a volume of 109407 shares. The stock had previously closed at $150.80.

Wall Street Analyst Weigh In

Several research firms have issued reports on ROST. Telsey Advisory Group reiterated a “market perform” rating and issued a $160.00 target price on shares of Ross Stores in a research note on Friday, June 14th. Wells Fargo & Company raised their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. TD Cowen raised their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Morgan Stanley raised their price objective on shares of Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, UBS Group raised their price objective on shares of Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $159.06.

Ross Stores Price Performance

The business’s 50 day moving average price is $141.36 and its two-hundred day moving average price is $141.05. The stock has a market cap of $50.49 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, sell-side analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a yield of 0.97%. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ross Stores

Several hedge funds have recently modified their holdings of ROST. Riverview Trust Co purchased a new position in shares of Ross Stores in the first quarter worth $26,000. Rise Advisors LLC purchased a new position in shares of Ross Stores in the first quarter worth $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 buying an additional 83 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of 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 buying an additional 74 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in Ross Stores by 154.5% during the first quarter. EntryPoint Capital LLC now owns 308 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 187 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.