According to Zacks, “Ross Stores has been gaining from the favorable response of value-focused customers to its extensive collection of brands and solid cost controls. Though Ross Stores expects to face obstacles related to strong comparisons, amid macroeconomic uncertainty and a competitive retail landscape, it remains confident of performing well in the year ahead. This is also highlighted by the robust third and fourth quarter view provided with its second quarter results. Also, Ross's solid financial status, ongoing merchandise initiatives and consistent focus on store expansion bode well. Evidently, the company recently achieved its expansion target for the second quarter, which also marked the second leg of expansion under the company's fiscal 2016 plan of adding nearly 90 stores. At the same time, however, over-expansion in new domestic markets may invite the threat of cannibalization. Estimates have been stable ahead of its third-quarter results.”
Other equities research analysts have also issued research reports about the stock. Vetr raised shares of Ross Stores from a hold rating to a buy rating and set a $65.00 price target on the stock in a report on Monday, August 1st. Citigroup Inc. raised their price target on shares of Ross Stores from $65.00 to $72.00 and gave the stock a buy rating in a report on Friday, August 19th. Miller Tabak started coverage on shares of Ross Stores in a report on Friday, June 24th. They issued a buy rating and a $66.00 price target on the stock. Deutsche Bank AG reissued a buy rating on shares of Ross Stores in a report on Tuesday, June 14th. Finally, SunTrust Banks Inc. raised their price target on shares of Ross Stores from $67.00 to $75.00 and gave the stock a buy rating in a report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. Ross Stores currently has a consensus rating of Buy and a consensus price target of $65.25.
Ross Stores (NASDAQ:ROST) remained flat at $64.37 during midday trading on Thursday. The stock had a trading volume of 926,408 shares. Ross Stores has a one year low of $43.47 and a one year high of $66.28. The stock has a market cap of $25.53 billion, a PE ratio of 24.50 and a beta of 0.94. The company has a 50 day moving average price of $63.16 and a 200-day moving average price of $58.65.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The business 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%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities analysts expect that Ross Stores will post $2.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were paid a $0.135 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.84%. Ross Stores’s dividend payout ratio is presently 20.53%.
In other news, CEO Barbara Rentler sold 12,840 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.76, for a total value of $818,678.40. Following the completion of the sale, the chief executive officer now directly owns 542,851 shares in the company, valued at $34,612,179.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory L. Quesnel sold 16,000 shares of Ross Stores stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total transaction of $1,030,240.00. Following the completion of the sale, the director now owns 19,370 shares of the company’s stock, valued at $1,247,234.30. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Dividend Assets Capital LLC raised its stake in shares of Ross Stores by 11,841.5% in the second quarter. Dividend Assets Capital LLC now owns 892,030 shares of the apparel retailer’s stock worth $50,569,000 after buying an additional 884,560 shares in the last quarter. Redwood Investments LLC raised its stake in shares of Ross Stores by 3.8% in the second quarter. Redwood Investments LLC now owns 331,029 shares of the apparel retailer’s stock valued at $18,766,000 after buying an additional 12,142 shares during the period. Zurich Insurance Group Ltd FI raised its stake in shares of Ross Stores by 21.6% in the first quarter. Zurich Insurance Group Ltd FI now owns 67,802 shares of the apparel retailer’s stock valued at $3,926,000 after buying an additional 12,050 shares during the period. Peconic Partners LLC acquired a new stake in shares of Ross Stores during the first quarter valued at about $15,901,000. Finally, Calamos Advisors LLC raised its stake in shares of Ross Stores by 1,761.7% in the second quarter. Calamos Advisors LLC now owns 756,481 shares of the apparel retailer’s stock valued at $42,885,000 after buying an additional 715,847 shares during the period. Hedge funds and other institutional investors own 90.21% of the company’s stock.
About Ross Stores
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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