Ross Stores (NASDAQ:ROST) Sets New 1-Year High at $110.89

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Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high on Thursday . The company traded as high as $110.89 and last traded at $110.76, with a volume of 35704 shares changing hands. The stock had previously closed at $108.31.

A number of analysts recently weighed in on ROST shares. Loop Capital upgraded Ross Stores to a “buy” rating and set a $120.00 price objective for the company in a report on Friday, August 16th. Deutsche Bank upped their price target on shares of Ross Stores from $107.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley upped their price target on shares of Ross Stores from $94.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. ValuEngine cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, BidaskClub raised shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Ross Stores presently has a consensus rating of “Buy” and a consensus target price of $107.61.

The firm has a market cap of $39.57 billion, a P/E ratio of 25.87, a PEG ratio of 2.32 and a beta of 0.84. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $105.32 and its two-hundred day moving average is $99.24.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. Ross Stores had a net margin of 10.46% and a return on equity of 49.21%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Research analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.255 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.02 annualized dividend and a dividend yield of 0.93%. Ross Stores’s payout ratio is currently 23.94%.

In other news, CEO Barbara Rentler sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $107.06, for a total transaction of $2,676,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Orban sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $102.50, for a total transaction of $102,500.00. Following the sale, the director now owns 543,939 shares of the company’s stock, valued at approximately $55,753,747.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,238 shares of company stock valued at $20,989,814. 2.30% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of ROST. Accident Compensation Corp bought a new position in Ross Stores in the 1st quarter valued at $205,000. Enlightenment Research LLC bought a new stake in shares of Ross Stores during the 2nd quarter worth $1,100,000. Elkfork Partners LLC lifted its holdings in shares of Ross Stores by 10.9% during the 2nd quarter. Elkfork Partners LLC now owns 127,736 shares of the apparel retailer’s stock worth $12,662,000 after acquiring an additional 12,572 shares during the last quarter. Hendershot Investments Inc. lifted its holdings in shares of Ross Stores by 0.7% during the 2nd quarter. Hendershot Investments Inc. now owns 50,555 shares of the apparel retailer’s stock worth $5,011,000 after acquiring an additional 345 shares during the last quarter. Finally, Trellis Advisors LLC bought a new stake in shares of Ross Stores during the 1st quarter worth $218,000. Institutional investors own 89.08% of the company’s stock.

Ross Stores Company Profile (NASDAQ:ROST)

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. Its stores 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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