Ross Stores (NASDAQ:ROST) Insider Sells $1,475,335.84 in Stock

Ross Stores, Inc. (NASDAQ:ROST) insider Stephen Brinkley sold 6,424 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the transaction, the insider directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This represents a 11.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $229.48 on Friday. The company’s fifty day moving average is $237.06 and its two-hundred day moving average is $226.59. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 12-month low of $143.39 and a 12-month high of $257.00. The company has a market cap of $73.31 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.Ross Stores’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. Equities analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s payout ratio is 21.55%.

Institutional Investors Weigh In On Ross Stores

Several large investors have recently made changes to their positions in ROST. BlackRock Inc. acquired a new stake in shares of Ross Stores during the 2nd quarter worth approximately $5,938,711,000. Bank of America Corp DE acquired a new position in shares of Ross Stores in the second quarter valued at $2,024,203,000. Primecap Management Co. CA acquired a new stake in Ross Stores during the second quarter worth $1,937,995,000. Wellington Management Group LLP increased its holdings in Ross Stores by 89.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock valued at $1,408,148,000 after buying an additional 3,118,591 shares during the period. Finally, Norges Bank bought a new stake in Ross Stores in the 4th quarter valued at $868,360,000. Institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ROST. Sanford C. Bernstein increased their price target on shares of Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a research report on Monday, July 6th. Jefferies Financial Group upped their price objective on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Zacks Research lowered shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an off-price retailer that operates Ross Dress for Less and dd’s DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.