BMO Capital Markets reiterated their hold rating on shares of Ross Stores, Inc. (NASDAQ:ROST) in a report issued on Tuesday. The brokerage currently has a $72.00 price target on the apparel retailer’s stock.
Other research analysts have also recently issued reports about the company. Telsey Advisory Group upped their price objective on Ross Stores from $70.00 to $77.00 and gave the company a market perform rating in a report on Wednesday, March 1st. Royal Bank of Canada set a $68.00 price objective on Ross Stores and gave the company a hold rating in a report on Thursday, January 5th. Jefferies Group LLC set a $63.00 price objective on Ross Stores and gave the company a hold rating in a report on Thursday, April 6th. Wedbush upped their price objective on Ross Stores from $71.00 to $73.00 and gave the company an outperform rating in a report on Wednesday, March 1st. Finally, Instinet upped their price objective on Ross Stores from $70.00 to $74.00 and gave the company a buy rating in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $69.61.
Shares of Ross Stores (NASDAQ:ROST) traded down 0.23% during trading on Tuesday, reaching $64.51. The company had a trading volume of 213,464 shares. The stock’s 50-day moving average price is $65.53 and its 200-day moving average price is $65.89. The company has a market capitalization of $25.28 billion, a PE ratio of 22.80 and a beta of 0.94. Ross Stores has a 52 week low of $52.00 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, February 28th. The apparel retailer reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. On average, equities analysts expect that Ross Stores will post $3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.14. Ross Stores’s dividend payout ratio is currently 19.85%.
In other news, CEO Barbara Rentler sold 50,481 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $66.10, for a total transaction of $3,336,794.10. Following the sale, the chief executive officer now owns 546,604 shares of the company’s stock, valued at $36,130,524.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Balmuth sold 51,207 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $67.29, for a total value of $3,445,719.03. Following the sale, the chairman now directly owns 145,666 shares in the company, valued at approximately $9,801,865.14. The disclosure for this sale can be found here. Insiders have sold 192,294 shares of company stock worth $12,793,360 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in Ross Stores by 0.3% in the third quarter. Parkside Financial Bank & Trust now owns 1,792 shares of the apparel retailer’s stock worth $115,000 after buying an additional 6 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Ross Stores during the third quarter worth $166,000. Alpha Windward LLC raised its stake in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock worth $196,000 after buying an additional 23 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Ross Stores by 16.1% in the first quarter. Carroll Financial Associates Inc. now owns 3,025 shares of the apparel retailer’s stock worth $199,000 after buying an additional 420 shares in the last quarter. Finally, EP Wealth Advisors Inc. bought a new stake in Ross Stores during the third quarter worth $201,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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