Insider Selling: Ross Stores, Inc. (ROST) Insider Sells 6,157 Shares of Stock
Ross Stores, Inc. (NASDAQ:ROST) insider Brian R. Morrow sold 6,157 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Ross Stores, Inc. (ROST) traded up 0.81% during midday trading on Friday, reaching $66.06. The company had a trading volume of 1,032,566 shares. Ross Stores, Inc. has a 1-year low of $52.85 and a 1-year high of $69.81. The firm’s 50 day moving average is $60.69 and its 200 day moving average is $60.55. The stock has a market capitalization of $25.47 billion, a PE ratio of 21.82 and a beta of 1.14.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.64 annualized dividend and a yield of 0.98%. Ross Stores’s payout ratio is currently 21.12%.
Institutional investors and hedge funds have recently modified their holdings of the business. Guardian Life Insurance Co. of America grew its position in Ross Stores by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after buying an additional 10 shares during the period. Parallel Advisors LLC grew its position in Ross Stores by 39.1% during the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after buying an additional 478 shares during the period. Balentine LLC grew its position in Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after buying an additional 5 shares during the period. Parkside Financial Bank & Trust grew its position in Ross Stores by 3.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after buying an additional 61 shares during the period. Finally, Acrospire Investment Management LLC grew its position in Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after buying an additional 1,000 shares during the period. Institutional investors own 90.40% of the company’s stock.
Several brokerages have weighed in on ROST. Royal Bank Of Canada reaffirmed a “hold” rating and set a $62.00 price target on shares of Ross Stores in a research report on Monday, September 18th. Wolfe Research cut their price target on Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 price target on shares of Ross Stores in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.17.
About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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