Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth Sells 11,261 Shares

Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth sold 11,261 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the sale, the chairman now directly owns 59,790 shares in the company, valued at $7,868,364. This represents a 15.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ross Stores Trading Down 0.7 %

Shares of ROST opened at $130.31 on Friday. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $42.85 billion, a P/E ratio of 20.52, a PEG ratio of 2.13 and a beta of 1.11. The firm’s 50-day moving average is $135.91 and its two-hundred day moving average is $144.03.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. On average, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is 25.63%.

Wall Street Analyst Weigh In

ROST has been the topic of a number of analyst reports. Telsey Advisory Group reduced their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird decreased their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup raised shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 target price on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average price target of $161.00.

Institutional Investors Weigh In On Ross Stores

A number of large investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp lifted its holdings in shares of Ross Stores by 1.8% in the third quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock valued at $588,000 after purchasing an additional 70 shares in the last quarter. Forum Financial Management LP increased its position in Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after buying an additional 74 shares in the last quarter. Alhambra Investment Management LLC raised its holdings in shares of Ross Stores by 5.2% in the fourth quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock worth $234,000 after acquiring an additional 76 shares during the last quarter. Key Financial Inc lifted its position in shares of Ross Stores by 13.2% in the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock valued at $100,000 after acquiring an additional 77 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Ross Stores by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer’s stock valued at $470,000 after acquiring an additional 79 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

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.