Ross Stores, Inc. (NASDAQ:ROST) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ross Stores, Inc. (NASDAQ:ROST) has received a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $263.7647.

A number of equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Evercore set a $290.00 price objective on Ross Stores in a report on Friday, August 21st. Truist Financial increased their target price on Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Wells Fargo & Company upped their price target on Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. raised 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.

Insider Transactions at Ross Stores

In other news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the sale, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Brinkley sold 6,424 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the sale, the insider owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Ross Stores in the 2nd quarter valued at about $5,938,711,000. State Street Corp raised its stake in Ross Stores by 5.3% during the second quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer’s stock valued at $3,116,902,000 after buying an additional 734,009 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Ross Stores in the 2nd quarter worth approximately $2,024,203,000. Primecap Management Co. CA acquired a new stake in shares of Ross Stores during the 2nd quarter valued at approximately $1,937,995,000. Finally, Wellington Management Group LLP lifted its stake in Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after purchasing an additional 3,118,591 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

NASDAQ:ROST opened at $232.51 on Friday. The firm has a market cap of $74.28 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. Ross Stores has a 12-month low of $144.00 and a 12-month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $237.60 and its two-hundred day moving average is $227.13.

Ross Stores (NASDAQ:ROST) last released 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 firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. Ross Stores’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. Research analysts expect that Ross Stores will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

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

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.