Ross Stores, Inc. (NASDAQ:ROST) was the target of a large drop in short interest in September. As of September 28th, there was short interest totalling 5,642,042 shares, a drop of 30.0% from the September 14th total of 8,063,555 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 3,424,573 shares, the short-interest ratio is currently 1.6 days.
Shares of ROST opened at $94.32 on Friday. Ross Stores has a fifty-two week low of $62.34 and a fifty-two week high of $100.58. The stock has a market capitalization of $37.00 billion, a P/E ratio of 28.24, a PEG ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts expect that Ross Stores will post 4.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Thursday, September 13th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, September 12th. Ross Stores’s dividend payout ratio (DPR) is currently 26.95%.
In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the transaction, the director now directly owns 25,127 shares in the company, valued at approximately $2,384,552.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Trail Advisors LLC grew its holdings in Ross Stores by 8,064.5% during the 1st quarter. Summit Trail Advisors LLC now owns 139,287 shares of the apparel retailer’s stock valued at $139,000 after buying an additional 137,581 shares in the last quarter. NuWave Investment Management LLC grew its holdings in Ross Stores by 168.7% during the 2nd quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 1,068 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Ross Stores by 81.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock valued at $158,000 after buying an additional 842 shares in the last quarter. MUFG Americas Holdings Corp grew its holdings in Ross Stores by 216.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 1,316 shares in the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new position in Ross Stores during the 1st quarter valued at about $181,000. 88.24% of the stock is owned by institutional investors.
Several equities analysts have weighed in on ROST shares. Loop Capital raised their price objective on Ross Stores to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Friday, July 20th. BidaskClub cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Deutsche Bank raised their price objective on Ross Stores from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, Cowen set a $101.00 price objective on Ross Stores and gave the company a “buy” rating in a research note on Monday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Ross Stores currently has an average rating of “Buy” and a consensus target price of $96.04.
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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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