Ross Stores (NASDAQ:ROST) CMO Karen Sykes Sells 2,556 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROST) CMO Karen Sykes sold 2,556 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total value of $546,753.96. Following the transaction, the chief marketing officer owned 103,945 shares of the company’s stock, valued at approximately $22,234,874.95. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ross Stores Stock Down 0.9%

Shares of ROST traded down $1.82 during midday trading on Friday, hitting $208.02. The company had a trading volume of 1,015,831 shares, compared to its average volume of 2,585,514. The stock has a market cap of $67.29 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.90 and a beta of 0.97. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $216.80. The company’s 50 day moving average price is $195.84 and its 200 day moving average price is $173.81. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.10. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the company posted $1.65 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.445 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 13th. This represents a $1.78 annualized dividend and a yield of 0.9%. Ross Stores’s payout ratio is currently 24.51%.

Analyst Ratings Changes

Several brokerages have weighed in on ROST. Barclays lifted their target price on Ross Stores from $205.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. The Goldman Sachs Group lifted their price objective on shares of Ross Stores from $214.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Sanford C. Bernstein set a $200.00 price objective on shares of Ross Stores in a report on Wednesday, March 4th. Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and increased their target price for the company from $220.00 to $240.00 in a research report on Wednesday, March 4th. Finally, Robert W. Baird set a $200.00 target price on shares of Ross Stores in a research note on Wednesday, December 17th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.29.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. grew its position in Ross Stores by 7,000.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Ross Stores during the fourth quarter valued at $26,000. American National Bank & Trust purchased a new position in shares of Ross Stores during the third quarter valued at $26,000. Bard Associates Inc. acquired a new position in Ross Stores during the fourth quarter valued at $31,000. Finally, City Holding Co. lifted its stake in Ross Stores by 1,080.0% in the 4th quarter. City Holding Co. now owns 177 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 162 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.