Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) CMO Sells 5,339 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROST) CMO Karen Fleming sold 5,339 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now directly owns 94,063 shares of the company’s stock, valued at $11,826,540.99. This trade represents a 5.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ross Stores Stock Up 1.8 %

Ross Stores stock traded up $2.24 during trading hours on Wednesday, hitting $125.95. The stock had a trading volume of 5,331,164 shares, compared to its average volume of 2,398,132. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $41.55 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12-month low of $122.77 and a 12-month high of $163.60. The stock’s 50-day moving average price is $141.70 and its 200-day moving average price is $146.15.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Equities research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.29%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s payout ratio is 25.63%.

Analysts Set New Price Targets

ROST has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Robert W. Baird dropped their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company reissued a “negative” rating on shares of Ross Stores in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Barclays set a $150.00 price target on shares of Ross Stores in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.40.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds have recently modified their holdings of ROST. Norges Bank bought a new position in shares of Ross Stores in the fourth quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD boosted its position in shares of Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after purchasing an additional 2,352,543 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Ross Stores in the fourth quarter worth approximately $230,204,000. Finally, Wellington Management Group LLP boosted its position in shares of Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares during the period. 86.86% of the stock is currently owned by institutional investors.

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.