Ross Stores, Inc. (NASDAQ:ROST) Insider Michael K. Kobayashi Sells 13,860 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the sale, the insider now directly owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ross Stores Trading Down 1.1 %

NASDAQ:ROST opened at $145.09 on Tuesday. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12. The firm has a market cap of $48.85 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $145.18 and a 200 day moving average price of $132.26.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. Sell-side analysts anticipate that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is 26.44%.

Ross Stores declared that its board has authorized a share buyback program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds have recently made changes to their positions in ROST. Norges Bank acquired a new stake in Ross Stores during the 4th quarter worth approximately $523,185,000. Morgan Stanley increased its position in shares of Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock worth $550,429,000 after acquiring an additional 2,173,922 shares in the last quarter. Holocene Advisors LP purchased a new stake in Ross Stores during the 2nd quarter worth $204,584,000. First Trust Advisors LP increased its holdings in Ross Stores by 515.8% in the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after purchasing an additional 1,471,585 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Ross Stores by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock valued at $640,624,000 after purchasing an additional 1,048,817 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ROST. Morgan Stanley lifted their price target on Ross Stores from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Telsey Advisory Group increased their price target on shares of Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Wells Fargo & Company lifted their price target on shares of Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Finally, Jefferies Financial Group increased their price objective on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Get Our Latest Research Report on Ross Stores

Ross Stores Company Profile

(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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

Featured Stories

Insider Buying and Selling by Quarter for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.