Ross Stores, Inc. (NASDAQ:ROST) Sees Large Growth in Short Interest

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

Ross Stores Price Performance

Shares of NASDAQ:ROST traded up $0.30 during midday trading on Wednesday, reaching $139.31. 1,294,296 shares of the company’s stock traded hands, compared to its average volume of 2,226,653. The company has a market cap of $46.22 billion, a P/E ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.09. The company has a fifty day simple moving average of $149.11 and a two-hundred day simple moving average of $143.53. 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 has a 1 year low of $114.06 and a 1 year high of $163.60.

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

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

ROST has been the subject of several research analyst reports. TD Cowen lifted their target price on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Loop Capital raised their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley upped their price target on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, UBS Group lifted their price objective on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

Insider Buying and Selling at Ross Stores

In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,138 shares of company stock worth $11,093,051 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. PGGM Investments increased its stake in shares of Ross Stores by 724.1% in the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after acquiring an additional 21,833 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Ross Stores by 140.2% in the first quarter. Canada Pension Plan Investment Board now owns 464,062 shares of the apparel retailer’s stock valued at $68,106,000 after buying an additional 270,844 shares during the last quarter. Norden Group LLC purchased a new position in Ross Stores during the first quarter worth about $5,667,000. Diversified Trust Co increased its position in shares of Ross Stores by 47.5% during the second quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock valued at $1,907,000 after acquiring an additional 4,228 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Ross Stores by 8.1% in the 1st quarter. TD Asset Management Inc now owns 547,710 shares of the apparel retailer’s stock valued at $80,382,000 after acquiring an additional 41,204 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

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.