Ross Stores, Inc. (NASDAQ:ROST) Chairman Sells $2,266,099.14 in Stock

Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ross Stores Stock Up 0.2 %

Ross Stores stock opened at $151.13 on Thursday. The firm has a market capitalization of $50.41 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.45 and a beta of 1.09. The company has a 50-day simple moving average of $146.48 and a 200-day simple moving average of $142.92. Ross Stores, Inc. has a one year low of $108.35 and a one year high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.50 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 earnings per share. As a group, equities analysts expect that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s payout ratio is currently 24.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Riverview Trust Co bought a new stake in shares of Ross Stores during the first quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of Ross Stores during the 1st quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores in the second quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital upped their target price on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America upped their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley raised their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays boosted their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, UBS Group increased their price target on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.71.

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.