Ross Stores (NASDAQ:ROST) released its quarterly earnings results on Thursday. The apparel retailer reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02, RTT News reports. Ross Stores had a return on equity of 49.37% and a net margin of 10.46%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
ROST opened at $102.95 on Friday. The company has a market cap of $39.17 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.29 and a beta of 0.89. The business’s 50-day moving average price is $104.70 and its 200-day moving average price is $98.03. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. Ross Stores has a 12 month low of $75.91 and a 12 month high of $108.20.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be issued a $0.255 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.02 annualized dividend and a dividend yield of 0.99%. Ross Stores’s dividend payout ratio is currently 23.94%.
ROST has been the topic of a number of research reports. Morgan Stanley raised their price target on Ross Stores from $94.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Co raised their price target on Ross Stores from $104.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Robert W. Baird restated an “outperform” rating and set a $114.00 price target (up previously from $108.00) on shares of Ross Stores in a research report on Friday. Finally, Deutsche Bank raised their price target on Ross Stores from $107.00 to $113.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Ross Stores presently has an average rating of “Buy” and an average price target of $104.67.
In other news, insider James S. Fassio sold 60,000 shares of Ross Stores stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $103.38, for a total value of $6,202,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael Balmuth sold 81,049 shares of Ross Stores stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $92.87, for a total value of $7,527,020.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,287 shares of company stock worth $29,806,735. Company insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC increased its holdings in Ross Stores by 4.0% during the 2nd quarter. TrinityPoint Wealth LLC now owns 2,619 shares of the apparel retailer’s stock valued at $277,000 after purchasing an additional 101 shares during the period. ETF Managers Group LLC increased its holdings in Ross Stores by 6.0% during the 2nd quarter. ETF Managers Group LLC now owns 1,955 shares of the apparel retailer’s stock valued at $197,000 after purchasing an additional 111 shares during the period. Wetherby Asset Management Inc. increased its holdings in Ross Stores by 1.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 11,353 shares of the apparel retailer’s stock valued at $1,057,000 after purchasing an additional 114 shares during the period. Cetera Advisor Networks LLC increased its holdings in Ross Stores by 0.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 13,143 shares of the apparel retailer’s stock valued at $1,225,000 after purchasing an additional 116 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in Ross Stores by 2.5% during the 2nd quarter. Wedbush Securities Inc. now owns 4,779 shares of the apparel retailer’s stock valued at $474,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 88.16% 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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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