Shares of Ross Stores (NASDAQ:ROST) have received an average rating of “Buy” from the twenty-five research firms that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $82.52.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Credit Suisse Group initiated coverage on shares of Ross Stores in a research report on Monday, March 12th. They set an “outperform” rating and a $88.00 target price on the stock. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Loop Capital initiated coverage on shares of Ross Stores in a research report on Thursday, March 8th. They set a “buy” rating and a $85.00 target price on the stock. Finally, SunTrust Banks set a $93.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research report on Wednesday, March 7th.
Ross Stores stock traded up $0.57 during midday trading on Wednesday, reaching $78.29. The stock had a trading volume of 1,459,214 shares, compared to its average volume of 2,620,164. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. Ross Stores has a 52-week low of $52.85 and a 52-week high of $85.66. The firm has a market capitalization of $29,586.35, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.
Ross Stores declared that its board has initiated a share buyback plan on Tuesday, March 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, March 16th. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.15%. Ross Stores’s dividend payout ratio (DPR) is currently 26.95%.
In other news, Director Sharon D. Garrett sold 26,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total transaction of $2,003,820.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Hartshorn sold 3,361 shares of the stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $76.94, for a total transaction of $258,595.34. Following the transaction, the vice president now owns 79,158 shares in the company, valued at $6,090,416.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,652 shares of company stock worth $19,829,016. Insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC acquired a new stake in Ross Stores in the fourth quarter valued at approximately $837,000. Pennsylvania Trust Co boosted its stake in Ross Stores by 77.9% in the fourth quarter. Pennsylvania Trust Co now owns 6,848 shares of the apparel retailer’s stock valued at $550,000 after acquiring an additional 2,998 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Ross Stores by 0.8% in the third quarter. Neuberger Berman Group LLC now owns 401,156 shares of the apparel retailer’s stock valued at $25,903,000 after acquiring an additional 3,212 shares in the last quarter. Timber Hill LLC acquired a new stake in Ross Stores in the fourth quarter valued at approximately $911,000. Finally, First Trust Advisors LP boosted its stake in Ross Stores by 43.1% in the fourth quarter. First Trust Advisors LP now owns 252,759 shares of the apparel retailer’s stock valued at $20,284,000 after acquiring an additional 76,167 shares in the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.
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Ross Stores Company Profile
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 brand names 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 savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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