Ross Stores (ROST) Hits New 12-Month High at $98.75

Ross Stores, Inc. (NASDAQ:ROST) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $98.75 and last traded at $97.76, with a volume of 102541 shares changing hands. The stock had previously closed at $97.20.

Several research analysts have weighed in on ROST shares. Deutsche Bank boosted their price objective on Ross Stores from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. BidaskClub raised Ross Stores from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. Loop Capital boosted their price objective on Ross Stores from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, June 27th. Goldman Sachs Group started coverage on Ross Stores in a research report on Monday, September 3rd. They issued a “neutral” rating and a $104.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Ross Stores from $98.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, August 24th. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $95.17.

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85. The stock has a market cap of $36.40 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. analysts predict that Ross Stores, Inc. will post 4.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.92%. Ross Stores’s dividend payout ratio is presently 26.95%.

In other news, Director Norman A. Ferber sold 10,144 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the transaction, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ROST. Voya Investment Management LLC lifted its position in shares of Ross Stores by 379.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after buying an additional 1,400,405 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Ross Stores by 3,515.8% during the 2nd quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after buying an additional 767,357 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ross Stores by 15.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after buying an additional 724,764 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Ross Stores by 70.2% during the 2nd quarter. Jennison Associates LLC now owns 1,710,090 shares of the apparel retailer’s stock valued at $144,930,000 after buying an additional 705,317 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Ross Stores by 29.8% during the 1st quarter. Millennium Management LLC now owns 2,603,686 shares of the apparel retailer’s stock valued at $203,035,000 after buying an additional 598,433 shares during the last quarter. 88.19% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Company Profile (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 in the United States. It 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.

Further Reading: What are the most popular ETFs

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply