Ross Stores (NASDAQ:ROST) Given New $165.00 Price Target at Barclays

Ross Stores (NASDAQ:ROST) had its price target hoisted by Barclays from $163.00 to $165.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the apparel retailer’s stock.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley upped their target price on Ross Stores from $159.00 to $161.00 and gave the stock an overweight rating in a report on Friday. Citigroup upped their price objective on Ross Stores from $147.00 to $172.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Robert W. Baird upped their price objective on Ross Stores from $145.00 to $162.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Telsey Advisory Group restated a market perform rating and set a $160.00 price objective on shares of Ross Stores in a research note on Friday. Finally, BMO Capital Markets upped their price objective on Ross Stores from $138.00 to $165.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $156.58.

Ross Stores Price Performance

Shares of ROST stock opened at $142.13 on Friday. Ross Stores has a twelve month low of $100.66 and a twelve month high of $151.12. The stock has a market capitalization of $47.86 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.14 and a beta of 1.06. The stock has a fifty day simple moving average of $136.85 and a two-hundred day simple moving average of $137.76. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a return on equity of 42.95% and a net margin of 9.60%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the business earned $1.09 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts predict that Ross Stores will post 5.93 EPS for the current fiscal year.

Ross Stores declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Activity at Ross Stores

In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the transaction, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock valued at $10,396,178 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ROST. Benjamin F. Edwards & Company Inc. grew its holdings in Ross Stores by 93.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer’s stock worth $2,019,000 after acquiring an additional 7,033 shares during the period. HTLF Bank acquired a new stake in Ross Stores during the fourth quarter worth about $1,094,000. Raymond James & Associates grew its holdings in Ross Stores by 5.7% during the fourth quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock worth $41,832,000 after acquiring an additional 16,167 shares during the period. NBC Securities Inc. acquired a new stake in Ross Stores during the third quarter worth about $503,000. Finally, National Pension Service grew its holdings in Ross Stores by 2.9% during the fourth quarter. National Pension Service now owns 782,739 shares of the apparel retailer’s stock worth $108,323,000 after acquiring an additional 21,984 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

About Ross Stores

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.