Ross Stores, Inc. (NASDAQ:ROST) VP Michael J. Hartshorn sold 3,361 shares of Ross Stores stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $76.94, for a total value of $258,595.34. Following the completion of the transaction, the vice president now directly owns 79,158 shares in the company, valued at $6,090,416.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Ross Stores, Inc. (NASDAQ ROST) traded up $0.18 during trading on Tuesday, reaching $77.22. The company’s stock had a trading volume of 900,514 shares, compared to its average volume of 2,700,953. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. Ross Stores, Inc. has a twelve month low of $52.85 and a twelve month high of $85.66. The company has a market capitalization of $29,329.71, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.95 billion. equities analysts expect that Ross Stores, Inc. will post 4.03 EPS for the current fiscal year.
Ross Stores announced that its board has approved a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.17%. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 16th. Ross Stores’s payout ratio is 25.35%.
Several equities analysts have recently issued reports on the company. Susquehanna Bancshares set a $95.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Wednesday, March 7th. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Loop Capital assumed coverage on Ross Stores in a research note on Thursday, March 8th. They set a “buy” rating and a $85.00 target price on the stock. Cowen set a $85.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Tuesday, March 6th. Finally, Credit Suisse Group assumed coverage on Ross Stores in a research note on Monday, March 12th. They set an “outperform” rating and a $88.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Ross Stores presently has an average rating of “Buy” and an average target price of $81.86.
A number of institutional investors have recently added to or reduced their stakes in the business. Novare Capital Management LLC boosted its holdings in Ross Stores by 4.4% in the fourth quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after acquiring an additional 640 shares in the last quarter. Daiwa SB Investments Ltd. lifted its holdings in shares of Ross Stores by 5.1% during the fourth quarter. Daiwa SB Investments Ltd. now owns 13,750 shares of the apparel retailer’s stock valued at $1,103,000 after purchasing an additional 670 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its holdings in shares of Ross Stores by 15.8% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock valued at $430,000 after purchasing an additional 730 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Ross Stores by 5.2% during the third quarter. Private Advisor Group LLC now owns 16,256 shares of the apparel retailer’s stock valued at $1,061,000 after purchasing an additional 806 shares in the last quarter. Finally, BB&T Investment Services Inc. lifted its holdings in shares of Ross Stores by 7.1% during the fourth quarter. BB&T Investment Services Inc. now owns 13,861 shares of the apparel retailer’s stock valued at $1,128,000 after purchasing an additional 920 shares in the last quarter. 89.57% of the stock is currently owned by institutional investors and hedge funds.
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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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