Ross Stores, Inc. (NASDAQ:ROST) insider Bernard G. Brautigan sold 8,587 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $76.80, for a total value of $659,481.60. Following the completion of the sale, the insider now owns 193,089 shares of the company’s stock, valued at $14,829,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ross Stores, Inc. (NASDAQ ROST) traded up $0.15 during trading on Friday, reaching $76.75. The company had a trading volume of 3,965,024 shares, compared to its average volume of 3,016,175. The firm has a market capitalization of $29,356.46, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $85.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. sell-side analysts anticipate that Ross Stores, Inc. will post 4.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.17%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, March 16th. Ross Stores’s dividend payout ratio (DPR) is 18.03%.
Ross Stores announced that its board has approved a stock repurchase program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have commented on ROST shares. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Susquehanna Bancshares set a $95.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Wednesday, March 7th. Loop Capital started coverage on Ross Stores in a research note on Thursday, March 8th. They issued a “buy” rating and a $85.00 price target for the company. SunTrust Banks set a $80.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Friday, November 17th. Finally, Cowen set a $85.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Tuesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $81.86.
A number of institutional investors have recently bought and sold shares of the stock. Certified Advisory Corp acquired a new stake in Ross Stores during the fourth quarter worth about $185,000. Rehmann Capital Advisory Group acquired a new stake in Ross Stores during the fourth quarter worth about $216,000. Xact Kapitalforvaltning AB grew its holdings in Ross Stores by 5.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 82,583 shares of the apparel retailer’s stock worth $6,627,000 after acquiring an additional 4,637 shares during the period. Sawtooth Solutions LLC acquired a new stake in Ross Stores during the fourth quarter worth about $221,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Ross Stores by 52.8% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,291 shares of the apparel retailer’s stock worth $1,789,000 after acquiring an additional 7,700 shares during the period. 89.58% of the stock is currently owned by hedge funds and other institutional investors.
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About Ross Stores
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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