Michael J. Hartshorn Sells 7,492 Shares of Ross Stores, Inc. (NASDAQ:ROST) Stock

Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ross Stores Trading Down 2.8 %

ROST traded down $3.67 during trading hours on Friday, reaching $125.42. The company's stock had a trading volume of 2,273,611 shares, compared to its average volume of 2,560,499. The stock has a market cap of $41.38 billion, a PE ratio of 19.75, a P/E/G ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The business's 50-day moving average is $137.81 and its 200-day moving average is $144.77.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

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Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's dividend payout ratio (DPR) is 25.63%.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors and hedge funds have recently made changes to their positions in ROST. Larson Financial Group LLC increased its holdings in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at $31,000. ORG Partners LLC grew its stake in shares of Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock valued at $36,000 after buying an additional 191 shares in the last quarter. Putney Financial Group LLC purchased a new stake in shares of Ross Stores in the 4th quarter valued at $44,000. Finally, Cary Street Partners Financial LLC acquired a new position in Ross Stores during the 4th quarter worth about $48,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley decreased their target price on Ross Stores from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price target on Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Loop Capital decreased their price objective on Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, Evercore ISI lowered their target price on shares of Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $161.40.

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.