Ross Stores, Inc. (NASDAQ:ROST) has been given an average recommendation of “Buy” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $131.43.
A number of equities research analysts recently weighed in on ROST shares. OTR Global raised Ross Stores from a “mixed” rating to a “positive” rating in a report on Monday, May 3rd. Morgan Stanley raised their price target on Ross Stores from $132.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, May 18th. Northcoast Research raised Ross Stores from a “neutral” rating to a “buy” rating and set a $147.00 price target for the company in a report on Wednesday, May 19th. Royal Bank of Canada raised their price target on Ross Stores from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 21st. Finally, Wedbush reaffirmed a “neutral” rating on shares of Ross Stores in a report on Tuesday, May 18th.
Shares of ROST opened at $117.97 on Friday. Ross Stores has a 1 year low of $79.65 and a 1 year high of $134.21. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.33 and a current ratio of 1.72. The stock has a 50 day moving average of $126.10. The firm has a market cap of $42.07 billion, a PE ratio of 48.35, a PEG ratio of 2.88 and a beta of 1.03.
Ross Stores declared that its board has initiated a stock buyback program on Thursday, May 20th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 8th will be given a $0.285 dividend. The ex-dividend date of this dividend is Monday, June 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.97%. Ross Stores’s dividend payout ratio is currently 97.44%.
In other news, CEO Barbara Rentler sold 45,623 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $123.73, for a total value of $5,644,933.79. Following the transaction, the chief executive officer now directly owns 311,526 shares in the company, valued at approximately $38,545,111.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Balmuth sold 49,377 shares of the firm’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $126.03, for a total value of $6,222,983.31. Following the completion of the transaction, the insider now owns 49,145 shares in the company, valued at $6,193,744.35. The disclosure for this sale can be found here. Insiders sold a total of 197,741 shares of company stock worth $24,497,649 over the last 90 days. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Advisor Partners LLC lifted its holdings in Ross Stores by 6.1% during the first quarter. Advisor Partners LLC now owns 9,854 shares of the apparel retailer’s stock worth $1,182,000 after acquiring an additional 570 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Ross Stores by 49.7% during the first quarter. Schroder Investment Management Group now owns 24,965 shares of the apparel retailer’s stock worth $2,994,000 after acquiring an additional 8,291 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Ross Stores by 39.9% during the first quarter. Kingsview Wealth Management LLC now owns 3,172 shares of the apparel retailer’s stock worth $382,000 after acquiring an additional 904 shares in the last quarter. Pendal Group Limited lifted its holdings in Ross Stores by 2.8% during the first quarter. Pendal Group Limited now owns 4,123 shares of the apparel retailer’s stock worth $494,000 after acquiring an additional 111 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Ross Stores by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 173,815 shares of the apparel retailer’s stock worth $20,842,000 after acquiring an additional 26,328 shares in the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.
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. 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 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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