Traders Buy Ross Stores Inc. (ROST) on Weakness
Traders bought shares of Ross Stores Inc. (NASDAQ:ROST) on weakness during trading hours on Monday. $24.06 million flowed into the stock on the tick-up and $19.59 million flowed out of the stock on the tick-down, for a money net flow of $4.47 million into the stock. Of all equities tracked, Ross Stores had the 24th highest net in-flow for the day. Ross Stores traded down ($0.15) for the day and closed at $63.11
Several analysts recently weighed in on ROST shares. Vetr lowered Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Monday, August 15th. Jefferies Group restated a “hold” rating and set a $57.00 price target (up previously from $51.00) on shares of Ross Stores in a report on Friday, August 19th. Buckingham Research upgraded Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Miller Tabak started coverage on Ross Stores in a report on Friday, June 24th. They set a “buy” rating and a $66.00 price target on the stock. Finally, Deutsche Bank AG restated a “buy” rating on shares of Ross Stores in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $64.87.
The stock has a market capitalization of $24.84 billion and a PE ratio of 24.02. The stock has a 50-day moving average of $61.32 and a 200 day moving average of $57.44.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ross Stores’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Ross Stores Inc. will post $2.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.54 annualized dividend and a dividend yield of 0.86%.
In related news, Director George Orban sold 56,000 shares of the business’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $57.52, for a total value of $3,221,120.00. Following the sale, the director now owns 506,750 shares in the company, valued at approximately $29,148,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Balmuth sold 194,984 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $53.45, for a total value of $10,421,894.80. Following the completion of the sale, the chairman now owns 61,548 shares in the company, valued at approximately $3,289,740.60. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of ROST. Ameriprise Financial Inc. increased its stake in Ross Stores by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,013,816 shares of the apparel retailer’s stock valued at $54,554,000 after buying an additional 8,994 shares in the last quarter. KBC Group NV increased its stake in shares of Ross Stores by 7.7% in the fourth quarter. KBC Group NV now owns 45,181 shares of the apparel retailer’s stock valued at $2,431,000 after buying an additional 3,232 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Ross Stores by 82.3% in the fourth quarter. State of Tennessee Treasury Department now owns 317,493 shares of the apparel retailer’s stock valued at $17,085,000 after buying an additional 143,297 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ross Stores by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,063,422 shares of the apparel retailer’s stock valued at $57,228,000 after buying an additional 38,006 shares during the period.
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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