A number of other equities research analysts also recently weighed in on the company. BidaskClub upgraded Ross Stores from a hold rating to a buy rating in a research report on Thursday, April 26th. Cowen set a $101.00 target price on Ross Stores and gave the stock a buy rating in a research report on Monday, July 30th. Deutsche Bank set a $91.00 target price on Ross Stores and gave the stock a buy rating in a research report on Friday, May 25th. Guggenheim restated a buy rating and issued a $85.00 target price on shares of Ross Stores in a research report on Thursday, May 24th. Finally, OTR Global initiated coverage on Ross Stores in a research report on Tuesday, May 8th. They issued a positive rating for the company. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $93.39.
ROST opened at $94.26 on Friday. The company has a market capitalization of $35.81 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.30 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85. Ross Stores has a 1-year low of $57.87 and a 1-year high of $97.85.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. analysts predict that Ross Stores will post 4.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.95%. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.
In other Ross Stores news, insider James S. Fassio sold 175,769 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $86.57, for a total transaction of $15,216,322.33. Following the sale, the insider now directly owns 82,899 shares of the company’s stock, valued at approximately $7,176,566.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Bush sold 1,500 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $85.73, for a total transaction of $128,595.00. Following the sale, the director now directly owns 30,091 shares in the company, valued at $2,579,701.43. The disclosure for this sale can be found here. Insiders have sold a total of 236,268 shares of company stock valued at $20,170,488 in the last quarter. Insiders own 2.40% of the company’s stock.
A number of large investors have recently made changes to their positions in ROST. Rockefeller Capital Management L.P. acquired a new stake in Ross Stores during the 1st quarter valued at $116,256,000. Voya Investment Management LLC raised its stake in Ross Stores by 379.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after purchasing an additional 1,400,405 shares during the period. American Century Companies Inc. raised its stake in Ross Stores by 35.2% during the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock valued at $241,842,000 after purchasing an additional 807,366 shares during the period. Marshall Wace LLP raised its stake in Ross Stores by 3,515.8% during the 2nd quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after purchasing an additional 767,357 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Ross Stores by 15.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after purchasing an additional 724,764 shares during the period. 87.46% of the stock is currently owned by institutional investors.
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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.
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