Ross Stores (NASDAQ:ROST) Given New $155.00 Price Target at Wells Fargo & Company

Ross Stores (NASDAQ:ROST) had its price target raised by Wells Fargo & Company from $150.00 to $155.00 in a research note released on Wednesday morning, MarketBeat reports. The firm currently has an overweight rating on the apparel retailer’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI reduced their price objective on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird lowered their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Barclays lifted their target price on Ross Stores from $150.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday. Finally, BMO Capital Markets lowered their price target on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.53.

Ross Stores Trading Up 0.9%

Shares of ROST stock opened at $150.66 on Wednesday. Ross Stores has a twelve month low of $122.36 and a twelve month high of $163.60. The stock’s fifty day simple moving average is $134.76 and its 200 day simple moving average is $142.45. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $49.54 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.13 and a beta of 1.17.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. As a group, sell-side analysts predict that Ross Stores will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $0.405 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, March 18th. Ross Stores’s payout ratio is 25.63%.

Insider Activity

In other Ross Stores news, CMO Karen Sykes sold 5,036 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the sale, the chief marketing officer now owns 110,365 shares of the company’s stock, valued at approximately $14,400,425.20. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Balmuth sold 11,261 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 59,790 shares in the company, valued at $7,868,364. The trade was a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,398 shares of company stock worth $4,439,950. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Ross Stores

Hedge funds have recently bought and sold shares of the business. CreativeOne Wealth LLC lifted its stake in shares of Ross Stores by 3.8% in the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer’s stock valued at $247,000 after buying an additional 70 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after acquiring an additional 73 shares during the last quarter. Forum Financial Management LP lifted its position in Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock valued at $223,000 after acquiring an additional 74 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Ross Stores by 6.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer’s stock valued at $164,000 after acquiring an additional 74 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds 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.