Ross Stores, Inc. (NASDAQ:ROST) COO Sells $1,302,084.24 in Stock

Ross Stores, Inc. (NASDAQ:ROST) COO Michael J. Hartshorn sold 8,366 shares of the company’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 transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ross Stores Trading Down 0.1 %

Ross Stores stock opened at $154.31 on Friday. 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 stock has a 50-day simple moving average of $147.23 and a 200 day simple moving average of $143.14. The stock has a market capitalization of $51.47 billion, a P/E ratio of 26.02, a PEG ratio of 2.49 and a beta of 1.09. Ross Stores, Inc. has a 52 week low of $108.35 and a 52 week high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its earnings results 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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same period in the previous year, the firm earned $1.32 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 24.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Evercore ISI increased their price objective on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. TD Cowen lifted their target price on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Guggenheim upped their price target on Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Institutional Trading of Ross Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverview Trust Co bought a new position in Ross Stores in the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new stake in Ross Stores in the 1st quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in Ross Stores during the 2nd quarter worth $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of Ross Stores during the second quarter worth $32,000. Institutional investors own 86.86% of the company’s stock.

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.