Stock Traders Buy High Volume of Ross Stores Call Options (ROST)
Ross Stores, Inc. (NASDAQ:ROST) saw unusually large options trading activity on Monday. Stock investors purchased 18,271 call options on the stock. This represents an increase of 2,791% compared to the average volume of 632 call options.
In other Ross Stores news, CEO Barbara Rentler sold 20,000 shares of the stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Norman A. Ferber sold 10,144 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the transaction, the director now owns 25,127 shares in the company, valued at $2,384,552.30. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ROST. Capital International Investors raised its position in shares of Ross Stores by 471.2% in the 3rd quarter. Capital International Investors now owns 4,324,179 shares of the apparel retailer’s stock valued at $428,526,000 after purchasing an additional 3,567,179 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ross Stores by 33.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock valued at $1,378,259,000 after purchasing an additional 3,512,781 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Ross Stores by 74.9% in the 3rd quarter. AQR Capital Management LLC now owns 4,965,542 shares of the apparel retailer’s stock valued at $492,085,000 after purchasing an additional 2,126,303 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Ross Stores by 379.2% in the 2nd quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after purchasing an additional 1,400,405 shares during the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in shares of Ross Stores in the 3rd quarter valued at approximately $92,166,000. 88.44% of the stock is owned by hedge funds and other institutional investors.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. Ross Stores’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Analysts predict that Ross Stores will post 4.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.99%. Ross Stores’s payout ratio is currently 26.95%.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. BidaskClub cut shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Friday. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Ross Stores in a report on Wednesday, July 25th. Telsey Advisory Group increased their target price on shares of Ross Stores from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Finally, William Blair reiterated an “outperform” rating on shares of Ross Stores in a report on Friday, August 24th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $97.08.
About Ross Stores
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 in the United States. It 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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