Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) Chairman Michael Balmuth sold 11,261 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the sale, the chairman now directly owns 59,790 shares of the company's stock, valued at $7,868,364. This represents a 15.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Ross Stores Stock Performance
NASDAQ ROST traded down $2.43 during trading on Monday, hitting $127.88. 4,744,755 shares of the company's stock traded hands, compared to its average volume of 2,602,740. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock has a market capitalization of $42.05 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.13 and a beta of 1.11. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. The business has a 50 day moving average of $135.91 and a 200-day moving average of $143.98.
Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.
Ross Stores Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. Ross Stores's dividend payout ratio is presently 25.63%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Loop Capital cut their price objective on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. UBS Group reduced their price objective on shares of Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets dropped their target price on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley cut their target price on Ross Stores from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Finally, Citigroup raised Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and an average target price of $161.00.
View Our Latest Stock Report on Ross Stores
Hedge Funds Weigh In On Ross Stores
Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Ross Stores in the 4th quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD raised its position in shares of Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock worth $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC bought a new stake in Ross Stores during the fourth quarter valued at $230,204,000. Finally, Wellington Management Group LLP grew its position in Ross Stores by 64.0% during the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer's stock worth $581,373,000 after buying an additional 1,507,922 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.
Ross Stores Company Profile
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Get Free Report)
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.
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