Several other brokerages have also recently commented on ROST. BMO Capital Markets boosted their price objective on shares of Ross Stores from $65.00 to $72.00 and gave the company a market perform rating in a research note on Wednesday, March 1st. Instinet boosted their price objective on shares of Ross Stores from $70.00 to $74.00 and gave the company a buy rating in a research note on Wednesday, March 1st. Wedbush boosted their price objective on shares of Ross Stores from $71.00 to $73.00 and gave the company an outperform rating in a research note on Wednesday, March 1st. Jefferies Group LLC boosted their price objective on shares of Ross Stores from $59.00 to $63.00 and gave the company a hold rating in a research note on Wednesday, March 1st. Finally, Citigroup Inc cut shares of Ross Stores from a buy rating to a neutral rating in a research note on Wednesday, March 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Ross Stores presently has an average rating of Hold and an average target price of $69.00.
Shares of Ross Stores (NASDAQ:ROST) traded up 2.595% during mid-day trading on Monday, hitting $62.655. 4,837,021 shares of the stock were exchanged. The stock’s 50-day moving average is $64.13 and its 200-day moving average is $65.95. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 22.140 and a beta of 0.94. Ross Stores has a 52 week low of $52.00 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. Ross Stores’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. Analysts forecast that Ross Stores will post $3.18 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s dividend payout ratio is currently 19.85%.
In related news, Chairman Michael Balmuth sold 51,207 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $67.29, for a total transaction of $3,445,719.03. Following the completion of the sale, the chairman now directly owns 145,666 shares in the company, valued at approximately $9,801,865.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Hartshorn sold 9,585 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $66.94, for a total transaction of $641,619.90. Following the sale, the vice president now owns 67,686 shares of the company’s stock, valued at $4,530,900.84. The disclosure for this sale can be found here. Insiders have sold a total of 192,294 shares of company stock valued at $12,793,360 over the last quarter. 2.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Herndon Capital Management LLC raised its stake in Ross Stores by 52.2% in the third quarter. Herndon Capital Management LLC now owns 577,611 shares of the apparel retailer’s stock worth $37,140,000 after buying an additional 198,180 shares in the last quarter. Cypress Funds LLC purchased a new stake in Ross Stores during the third quarter worth approximately $8,359,000. North Point Portfolio Managers Corp OH raised its stake in Ross Stores by 0.6% in the third quarter. North Point Portfolio Managers Corp OH now owns 225,093 shares of the apparel retailer’s stock worth $14,473,000 after buying an additional 1,336 shares in the last quarter. Redwood Investments LLC raised its stake in Ross Stores by 7.1% in the third quarter. Redwood Investments LLC now owns 354,619 shares of the apparel retailer’s stock worth $22,802,000 after buying an additional 23,590 shares in the last quarter. Finally, Decatur Capital Management Inc. raised its stake in Ross Stores by 0.6% in the third quarter. Decatur Capital Management Inc. now owns 231,217 shares of the apparel retailer’s stock worth $14,867,000 after buying an additional 1,442 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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