Key Points
- CEO James Grant Conroy sold 49,205 Ross Stores shares at an average price of $229.48, generating approximately $11.29 million. His remaining stake fell 26.81% to 134,349 shares.
- Ross Stores reported quarterly EPS of $2.66, exceeding estimates of $1.95, while revenue rose 13.3% year over year to $6.26 billion.
- Analysts maintain a “Moderate Buy” consensus, with 15 Buy ratings and six Holds and an average price target of $263.76; the company also announced a quarterly dividend of $0.445 per share.
Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) insider Stephen Brinkley sold 6,424 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the sale, the insider owned 51,665 shares in the company, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ross Stores Stock Down 1.6%
Shares of NASDAQ ROST opened at $226.26 on Wednesday. The stock has a market cap of $72.28 billion, a P/E ratio of 27.39, a PEG ratio of 1.93 and a beta of 0.85. The business's fifty day simple moving average is $236.74 and its 200-day simple moving average is $226.27. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.
Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.16 billion. During the same period in the previous year, the firm posted $1.56 EPS. Ross Stores's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.
Ross Stores Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores's payout ratio is currently 21.55%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Zacks Research downgraded shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. UBS Group raised their price objective on shares of Ross Stores from $232.00 to $239.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $294.00 price objective on shares of Ross Stores in a research report on Friday, August 21st. Finally, Sanford C. Bernstein boosted their target price on shares of Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.76.
View Our Latest Research Report on ROST
Institutional Investors Weigh In On Ross Stores
Institutional investors have recently added to or reduced their stakes in the business. National Pension Service grew its stake in shares of Ross Stores by 138.4% during the 4th quarter. National Pension Service now owns 1,300,056 shares of the apparel retailer's stock worth $234,192,000 after purchasing an additional 754,816 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Ross Stores in the 4th quarter valued at about $204,750,000. CIBC Asset Management Inc lifted its stake in shares of Ross Stores by 33.2% in the fourth quarter. CIBC Asset Management Inc now owns 136,426 shares of the apparel retailer's stock valued at $24,576,000 after purchasing an additional 33,995 shares during the period. Jefferies Financial Group Inc. lifted its stake in shares of Ross Stores by 744.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 211,676 shares of the apparel retailer's stock valued at $38,131,000 after purchasing an additional 186,619 shares during the period. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in Ross Stores during the fourth quarter worth about $1,404,000. Hedge funds and other institutional investors own 86.86% of the company's stock.
About Ross Stores
(
Get Free Report)
Ross Stores, Inc (NASDAQ: ROST) is an off-price retailer that operates Ross Dress for Less and dd's DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.
Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.
Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.
Further Reading
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