Ross Stores (NASDAQ:ROST) Shares Break Above 50-Day Moving Average – Should You Sell?

Ross Stores, Inc. (NASDAQ:ROST)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $231.73 and traded as high as $237.98. Ross Stores shares last traded at $234.11, with a volume of 2,082,810 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays raised their price objective on Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Sanford C. Bernstein upped their target price on shares of Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, August 21st. Truist Financial increased their target price on shares of Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st. Robert W. Baird increased their target price on shares of Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target of $268.83.

Ross Stores Price Performance

The business has a 50 day moving average price of $231.73 and a two-hundred day moving average price of $221.03. The stock has a market cap of $74.79 billion, a PE ratio of 28.34, a P/E/G ratio of 1.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. Ross Stores’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 earnings per share. Research analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were given a $0.4450 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 annualized dividend and a yield of 0.8%. Ross Stores’s payout ratio is currently 21.55%.

Insider Buying and Selling at Ross Stores

In other news, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This trade represents a 26.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider directly owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC grew its position in Ross Stores by 7.8% during the third quarter. Park Avenue Securities LLC now owns 18,774 shares of the apparel retailer’s stock valued at $4,382,000 after buying an additional 1,356 shares during the period. Verdence Capital Advisors LLC purchased a new stake in Ross Stores during the third quarter worth about $388,000. Sigma Planning Corp increased its holdings in Ross Stores by 39.0% during the third quarter. Sigma Planning Corp now owns 7,523 shares of the apparel retailer’s stock worth $1,756,000 after buying an additional 2,110 shares during the last quarter. IRON Financial LLC purchased a new stake in Ross Stores during the third quarter worth about $980,000. Finally, Signaturefd LLC increased its holdings in Ross Stores by 1.4% during the third quarter. Signaturefd LLC now owns 8,278 shares of the apparel retailer’s stock worth $1,932,000 after buying an additional 117 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

About Ross Stores

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.