Ross Stores, Inc. (NASDAQ:ROST) Sees Significant Increase in Short Interest

Ross Stores, Inc. (NASDAQ:ROST) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 4,660,000 shares, a growth of 18.9% from the September 30th total of 3,920,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 2,140,000 shares, the short-interest ratio is currently 2.2 days.

Ross Stores Stock Up 0.1 %

Ross Stores stock traded up $0.11 during mid-day trading on Wednesday, reaching $139.12. 108,998 shares of the company were exchanged, compared to its average volume of 2,221,009. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a market cap of $46.15 billion, a P/E ratio of 22.42, a PEG ratio of 2.34 and a beta of 1.09. The business has a fifty day moving average of $149.11 and a 200 day moving average of $143.53. Ross Stores has a 12-month low of $114.06 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business posted $1.32 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Ross Stores will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s payout ratio is currently 23.71%.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock valued at $11,093,051 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Ross Stores in the second quarter worth $27,000. SJS Investment Consulting Inc. grew its stake in Ross Stores by 262.1% during the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the 2nd quarter worth $32,000. Armstrong Advisory Group Inc. acquired a new position in Ross Stores during the 3rd quarter valued at about $33,000. Finally, Crewe Advisors LLC raised its stake in Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 136 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” 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. TD Cowen raised their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, UBS Group raised their price target on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average target price 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.