Ross Stores Inc. (ROST) Trading 2.1% Higher
Ross Stores Inc. (NASDAQ:ROST)’s share price traded up 2.1% during mid-day trading on Monday . The stock traded as high as $61.26 and last traded at $61.21, with a volume of 1,678,929 shares trading hands. The stock had previously closed at $59.97.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a report on Monday. Vetr cut Ross Stores from a “buy” rating to a “hold” rating and set a $60.50 price target for the company. in a report on Monday, July 18th. Jefferies Group reaffirmed a “hold” rating on shares of Ross Stores in a report on Thursday, July 14th. Cowen and Company upped their price target on Ross Stores from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, July 13th. Finally, Miller Tabak started coverage on Ross Stores in a report on Friday, June 24th. They issued a “buy” rating and a $66.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $61.74.
The firm has a market cap of $24.42 billion and a price-to-earnings ratio of 23.99. The company’s 50-day moving average is $56.12 and its 200 day moving average is $55.89.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business earned $3.09 billion during the quarter. During the same period in the previous year, the company earned $1.33 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Ross Stores Inc. will post $2.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, June 7th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, June 3rd.
In other Ross Stores news, Chairman Michael Balmuth sold 194,984 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $53.45, for a total transaction of $10,421,894.80. Following the completion of the sale, the chairman now directly owns 61,548 shares in the company, valued at $3,289,740.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Orban sold 56,000 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $57.52, for a total transaction of $3,221,120.00. Following the sale, the director now owns 506,750 shares of the company’s stock, valued at $29,148,260. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in ROST. Montag & Caldwell LLC boosted its stake in Ross Stores by 22.3% in the fourth quarter. Montag & Caldwell LLC now owns 21,028 shares of the apparel retailer’s stock worth $1,132,000 after buying an additional 3,832 shares during the period. Cibc World Markets Corp boosted its stake in Ross Stores by 18.9% in the fourth quarter. Cibc World Markets Corp now owns 33,846 shares of the apparel retailer’s stock worth $1,821,000 after buying an additional 5,381 shares during the period. Advantus Capital Management Inc boosted its stake in Ross Stores by 1.4% in the fourth quarter. Advantus Capital Management Inc now owns 39,346 shares of the apparel retailer’s stock worth $2,117,000 after buying an additional 545 shares during the period. Pittenger & Anderson Inc. boosted its stake in Ross Stores by 4.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 40,140 shares of the apparel retailer’s stock worth $2,160,000 after buying an additional 1,820 shares during the period. Finally, TrimTabs Asset Management LLC boosted its stake in Ross Stores by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 43,812 shares of the apparel retailer’s stock worth $2,358,000 after buying an additional 816 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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