Ross Stores, Inc. (NASDAQ:ROST) Short Interest Up 18.9% in October

Ross Stores, Inc. (NASDAQ:ROST) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 4,660,000 shares, a growth of 18.9% from the September 30th total of 3,920,000 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 2,140,000 shares, the short-interest ratio is currently 2.2 days.

Ross Stores Stock Performance

ROST stock traded up $0.11 during midday trading on Wednesday, reaching $139.12. 108,998 shares of the company’s stock traded hands, compared to its average volume of 2,221,009. Ross Stores has a 52-week low of $114.06 and a 52-week high of $163.60. The stock’s 50-day moving average is $149.11 and its 200 day moving average is $143.53. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The stock has a market cap of $46.15 billion, a P/E ratio of 22.42, a PEG ratio of 2.34 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. Ross Stores’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Ross Stores will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 23.71%.

Insiders Place Their Bets

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,138 shares of company stock worth $11,093,051. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

Hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in shares of Ross Stores by 42.1% during the 3rd quarter. QRG Capital Management Inc. now owns 30,196 shares of the apparel retailer’s stock valued at $4,545,000 after buying an additional 8,941 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Ross Stores by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 133,204 shares of the apparel retailer’s stock valued at $20,049,000 after acquiring an additional 6,470 shares in the last quarter. National Pension Service boosted its stake in shares of Ross Stores by 12.8% in the third quarter. National Pension Service now owns 901,534 shares of the apparel retailer’s stock worth $135,690,000 after acquiring an additional 102,185 shares during the period. KG&L Capital Management LLC grew its position in shares of Ross Stores by 4.1% during the third quarter. KG&L Capital Management LLC now owns 4,680 shares of the apparel retailer’s stock worth $704,000 after purchasing an additional 183 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Ross Stores by 13.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 149,104 shares of the apparel retailer’s stock valued at $22,442,000 after buying an additional 17,184 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ROST has been the topic of several analyst reports. Barclays boosted their target price on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Bank of America lifted their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.