Insider Selling: Ross Stores Inc. (ROST) CEO Sells 20,000 Shares of Stock
Ross Stores Inc. (NASDAQ:ROST) CEO Barbara Rentler sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $62.54, for a total transaction of $1,250,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ross Stores Inc. (NASDAQ:ROST) opened at 63.35 on Thursday. Ross Stores Inc. has a 1-year low of $43.47 and a 1-year high of $66.28. The stock’s 50 day moving average price is $62.47 and its 200 day moving average price is $58.16. The firm has a market cap of $25.12 billion, a P/E ratio of 24.11 and a beta of 0.84.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The firm earned $3.18 billion during the quarter, compared to the consensus estimate of $3.13 billion. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Equities research analysts predict that Ross Stores Inc. will post $2.75 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.54 dividend on an annualized basis and a yield of 0.85%. Ross Stores’s payout ratio is currently 20.53%.
ROST has been the topic of several analyst reports. Bank of America Corp. set a $70.00 target price on shares of Ross Stores and gave the company a “buy” rating in a report on Monday, September 12th. Wedbush raised their target price on shares of Ross Stores from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 19th. Citigroup Inc. raised their target price on shares of Ross Stores from $65.00 to $72.00 and gave the company a “buy” rating in a report on Friday, August 19th. Royal Bank Of Canada raised their target price on shares of Ross Stores from $56.00 to $65.00 and gave the company a “sector perform” rating in a report on Friday, August 19th. Finally, Buckingham Research raised shares of Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.09.
Hedge funds and other institutional investors have recently modified their holdings of the company. Insight Capital Research & Management Inc. bought a new position in shares of Ross Stores during the first quarter worth approximately $1,717,000. BlackRock Group LTD increased its position in shares of Ross Stores by 14.3% in the first quarter. BlackRock Group LTD now owns 3,885,806 shares of the apparel retailer’s stock worth $224,988,000 after buying an additional 485,620 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Ross Stores by 33.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,975,906 shares of the apparel retailer’s stock worth $114,405,000 after buying an additional 499,451 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of Ross Stores by 19.8% in the first quarter. Ngam Advisors L.P. now owns 36,137 shares of the apparel retailer’s stock worth $2,092,000 after buying an additional 5,975 shares during the last quarter. Finally, WASHINGTON TRUST Co bought a new position in shares of Ross Stores during the first quarter worth approximately $251,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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