Ross Stores, Inc. (NASDAQ:ROST) CEO Barbara Rentler Sells 40,000 Shares

Ross Stores, Inc. (NASDAQ:ROST) CEO Barbara Rentler sold 40,000 shares of Ross Stores stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $99.16, for a total value of $3,966,400.00. Following the completion of the transaction, the chief executive officer now owns 473,922 shares of the company’s stock, valued at $46,994,105.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ:ROST opened at $100.97 on Friday. Ross Stores, Inc. has a 12 month low of $75.91 and a 12 month high of $104.35. The company has a market cap of $36.67 billion, a P/E ratio of 23.70, a PEG ratio of 2.14 and a beta of 0.90. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.01. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Ross Stores, Inc. will post 4.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, June 10th. This represents a $1.02 annualized dividend and a yield of 1.01%. Ross Stores’s payout ratio is 23.94%.

Ross Stores declared that its board has initiated a stock buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

A number of equities analysts have commented on the company. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $105.00 target price on shares of Ross Stores in a research note on Friday, May 24th. Robert W. Baird assumed coverage on Ross Stores in a research note on Monday, May 13th. They issued an “outperform” rating and a $108.00 target price for the company. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, DA Davidson lifted their price target on Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $98.13.

Several hedge funds and other institutional investors have recently bought and sold shares of ROST. Comerica Securities Inc. lifted its position in Ross Stores by 20.4% during the 4th quarter. Comerica Securities Inc. now owns 4,218 shares of the apparel retailer’s stock worth $351,000 after acquiring an additional 716 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Ross Stores by 4.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,802 shares of the apparel retailer’s stock worth $1,481,000 after acquiring an additional 807 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Ross Stores by 8,178.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,859,040 shares of the apparel retailer’s stock worth $167,000 after acquiring an additional 13,691,631 shares during the last quarter. WINTON GROUP Ltd lifted its position in Ross Stores by 3.3% during the 4th quarter. WINTON GROUP Ltd now owns 154,939 shares of the apparel retailer’s stock worth $12,891,000 after acquiring an additional 4,945 shares during the last quarter. Finally, Argent Trust Co lifted its position in Ross Stores by 333.4% during the 4th quarter. Argent Trust Co now owns 20,405 shares of the apparel retailer’s stock worth $1,698,000 after acquiring an additional 15,697 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors.

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Ross Stores Company Profile

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. Its stores 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.

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