Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) COO Sells 8,366 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROST) COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ross Stores Trading Up 0.3 %

NASDAQ:ROST traded up $0.41 during midday trading on Wednesday, reaching $150.73. 1,364,858 shares of the stock traded hands, compared to its average volume of 2,239,160. The stock has a market capitalization of $50.28 billion, a P/E ratio of 25.35, a PEG ratio of 2.48 and a beta of 1.09. Ross Stores, Inc. has a 12 month low of $108.35 and a 12 month high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The company has a fifty day moving average of $147.05 and a 200 day moving average of $142.97.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. On average, research analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a $0.3675 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio is 24.79%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen lifted their price target on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Telsey Advisory Group increased their price objective on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.71.

Hedge Funds Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently modified their holdings of ROST. Janney Montgomery Scott LLC lifted its stake in shares of Ross Stores by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 36,542 shares of the apparel retailer’s stock valued at $5,057,000 after purchasing an additional 449 shares during the period. Brown Advisory Inc. lifted its position in Ross Stores by 0.3% during the fourth quarter. Brown Advisory Inc. now owns 108,249 shares of the apparel retailer’s stock valued at $14,981,000 after buying an additional 354 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Ross Stores by 8.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,111 shares of the apparel retailer’s stock valued at $1,399,000 after buying an additional 786 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at $798,000. Finally, Balentine LLC purchased a new stake in shares of Ross Stores in the 4th quarter worth about $230,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.