Ross Stores Inc. (NASDAQ:ROST) insider James S. Fassio sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total value of $760,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Ross Stores Inc. (NASDAQ:ROST) opened at 63.76 on Tuesday. The firm has a market capitalization of $25.29 billion, a P/E ratio of 24.27 and a beta of 0.84. Ross Stores Inc. has a 1-year low of $43.47 and a 1-year high of $66.28. The stock’s 50 day moving average is $62.68 and its 200-day moving average is $58.32.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. Ross Stores’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts forecast that Ross Stores Inc. will post $2.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, August 31st. Ross Stores’s dividend payout ratio is presently 20.53%.
Institutional investors have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its position in shares of Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock worth $109,000 after buying an additional 435 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Ross Stores during the first quarter worth $140,000. Carroll Financial Associates Inc. increased its position in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock worth $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new position in shares of Ross Stores during the second quarter worth $151,000. Finally, Citizens Financial Group Inc RI increased its position in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock worth $159,000 after buying an additional 931 shares in the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on ROST shares. Vetr downgraded Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Monday, August 15th. Jefferies Group reissued a “hold” rating and issued a $57.00 target price (up from $51.00) on shares of Ross Stores in a report on Friday, August 19th. Buckingham Research raised Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Bank of America Corp. set a $70.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Miller Tabak started coverage on shares of Ross Stores in a research report on Friday, June 24th. They issued a “buy” rating and a $66.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.09.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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