Ross Stores CEO Michael Balmuth Unloads 134,376 Shares (ROST)
Ross Stores (NASDAQ:ROST) CEO Michael Balmuth sold 134,376 shares of Ross Stores stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $68.10, for a total transaction of $9,151,005.60. Following the sale, the chief executive officer now directly owns 68,192 shares in the company, valued at approximately $4,643,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ROST has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ross Stores in a research note on Friday, May 23rd. They now have a $76.00 price target on the stock, down previously from $78.00. Separately, analysts at Morgan Stanley cut their price target on shares of Ross Stores to $81.00 in a research note on Friday, May 23rd. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Ross Stores from $81.00 to $78.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Ross Stores has an average rating of “Buy” and a consensus target price of $76.35.
Ross Stores (NASDAQ:ROST) traded down 1.20% during mid-day trading on Wednesday, hitting $67.48. 2,587,470 shares of the company’s stock traded hands. Ross Stores has a 52 week low of $62.65 and a 52 week high of $81.99. The stock has a 50-day moving average of $68.71 and a 200-day moving average of $71.58. The company has a market cap of $14.100 billion and a P/E ratio of 17.26.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $1.15 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.15. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Ross Stores will post $4.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, June 6th.
Ross Stores, Inc is an off-price apparel and home fashion chain in the United States, with 1,091 locations in 33 states, the District of Columbia and Guam.
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