Ross Stores (NASDAQ:ROST) PT Raised to $160.00

Ross Stores (NASDAQ:ROST) had its price objective increased by Wells Fargo & Company from $150.00 to $160.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised their price target on Ross Stores from $138.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Loop Capital raised their price target on Ross Stores from $150.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a buy rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on Ross Stores from $150.00 to $163.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Finally, Citigroup increased their price objective on Ross Stores from $147.00 to $172.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $156.58.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $142.13 on Friday. The firm has a market capitalization of $47.86 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.14 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $136.85 and its two-hundred day simple moving average is $137.76. Ross Stores has a twelve month low of $100.66 and a twelve month high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a return on equity of 42.95% and a net margin of 9.60%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, equities analysts anticipate that Ross Stores will post 5.93 EPS for the current fiscal year.

Ross Stores Dividend Announcement

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

Ross Stores announced that its board has approved a share buyback program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the sale, the insider now directly owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,097 shares of company stock valued at $10,396,178. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Ross Stores

Several large investors have recently modified their holdings of ROST. Riverview Trust Co bought a new stake in shares of Ross Stores in the first quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of Ross Stores in the first quarter worth $27,000. Clearstead Advisors LLC grew its holdings in shares of Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 229 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the period. Finally, Rock Creek Group LP bought a new stake in shares of Ross Stores in the third quarter worth $35,000. 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.