Ross Stores (NASDAQ:ROST) Upgraded at BidaskClub
ROST has been the subject of a number of other reports. Guggenheim reaffirmed a buy rating and issued a $105.00 price target on shares of Ross Stores in a research note on Tuesday, March 5th. Wells Fargo & Co upped their price target on Ross Stores from $92.00 to $104.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. DA Davidson upped their price target on Ross Stores to $92.00 and gave the company a neutral rating in a research note on Thursday, March 7th. Robert W. Baird assumed coverage on Ross Stores in a research note on Monday, May 13th. They set an outperform rating and a $108.00 target price for the company. Finally, Zacks Investment Research raised Ross Stores from a sell rating to a hold rating in a research note on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Ross Stores has an average rating of Buy and a consensus target price of $99.23.
Shares of ROST stock opened at $102.85 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The company has a market cap of $37.91 billion, a PE ratio of 24.14, a PEG ratio of 2.22 and a beta of 0.89. The company has a 50-day moving average of $97.24. Ross Stores has a one year low of $75.91 and a one year high of $105.31.
Ross Stores declared that its board has authorized a share repurchase program on Tuesday, March 5th that permits the company to buyback $2.55 billion in shares. This buyback authorization permits the apparel retailer to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s dividend payout ratio (DPR) is currently 23.94%.
In other Ross Stores news, insider Bernard G. Brautigan sold 19,384 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total transaction of $1,813,567.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James S. Fassio sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $103.38, for a total value of $6,202,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,433 shares of company stock valued at $19,509,788. Insiders own 2.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Sepio Capital LLC boosted its holdings in shares of Ross Stores by 1.5% in the 1st quarter. Sepio Capital LLC now owns 142,718 shares of the apparel retailer’s stock valued at $13,432,000 after buying an additional 2,166 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Ross Stores in the 1st quarter valued at approximately $350,000. Nordea Investment Management AB boosted its holdings in shares of Ross Stores by 17.9% in the 1st quarter. Nordea Investment Management AB now owns 868,185 shares of the apparel retailer’s stock valued at $80,828,000 after buying an additional 131,730 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Ross Stores in the 1st quarter valued at approximately $326,000. Finally, Accident Compensation Corp acquired a new stake in shares of Ross Stores in the 1st quarter valued at approximately $205,000. 89.58% of the stock is owned by hedge funds and other institutional investors.
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. 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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