Ross Stores (NASDAQ:ROST) Given New $173.00 Price Target at JPMorgan Chase & Co.

Ross Stores (NASDAQ:ROST) had its target price hoisted by JPMorgan Chase & Co. from $171.00 to $173.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

Several other analysts have also weighed in on the company. TD Cowen decreased their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays raised their target price on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Loop Capital raised their target price on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Bank of America raised their target price on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

Ross Stores Stock Performance

ROST opened at $146.09 on Friday. The firm has a market capitalization of $48.47 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. The stock’s 50 day moving average price is $145.14 and its two-hundred day moving average price is $144.53. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Ross Stores has a 12-month low of $127.53 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 42.42% and a net margin of 9.95%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm earned $1.33 EPS. Ross Stores’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Ross Stores will post 6.1 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 10th. Ross Stores’s dividend payout ratio is presently 23.15%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This trade represents a 57.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The trade was a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SkyView Investment Advisors LLC lifted its stake in shares of Ross Stores by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 17,772 shares of the apparel retailer’s stock valued at $2,675,000 after acquiring an additional 649 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Ross Stores by 6.1% in the 3rd quarter. Toronto Dominion Bank now owns 177,622 shares of the apparel retailer’s stock valued at $26,734,000 after acquiring an additional 10,175 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Ross Stores by 6.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 18,806 shares of the apparel retailer’s stock valued at $2,827,000 after acquiring an additional 1,085 shares during the last quarter. Geode Capital Management LLC raised its position in Ross Stores by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer’s stock worth $1,222,915,000 after purchasing an additional 34,475 shares during the last quarter. Finally, Marshfield Associates raised its position in Ross Stores by 0.4% during the 3rd quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer’s stock worth $588,337,000 after purchasing an additional 14,193 shares during the last quarter. 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.