Insider Selling: Ross Stores, Inc. (NASDAQ:ROST) COO Sells 7,492 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROST) COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. The trade was a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ross Stores Stock Down 0.3 %

Shares of NASDAQ:ROST traded down $0.43 during trading on Wednesday, hitting $127.70. The stock had a trading volume of 1,901,104 shares, compared to its average volume of 2,437,997. The company has a market capitalization of $42.13 billion, a PE ratio of 20.11, a PEG ratio of 2.13 and a beta of 1.15. The firm’s fifty day moving average is $139.10 and its 200 day moving average is $145.26. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is 25.63%.

Analysts Set New Price Targets

ROST has been the topic of several analyst reports. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. BMO Capital Markets decreased their price target on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley dropped their price objective on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Robert W. Baird lowered their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, UBS Group cut their price target on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average target price of $161.40.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Ross Stores by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer’s stock worth $295,857,000 after purchasing an additional 151,255 shares during the last quarter. Nwam LLC increased its stake in Ross Stores by 16.1% during the 3rd quarter. Nwam LLC now owns 1,651 shares of the apparel retailer’s stock valued at $248,000 after purchasing an additional 229 shares in the last quarter. Cerity Partners LLC raised its holdings in Ross Stores by 65.2% in the third quarter. Cerity Partners LLC now owns 83,214 shares of the apparel retailer’s stock worth $12,525,000 after buying an additional 32,846 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Ross Stores by 11.7% in the third quarter. Kingsview Wealth Management LLC now owns 2,894 shares of the apparel retailer’s stock worth $436,000 after buying an additional 302 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Ross Stores by 11.6% during the third quarter. Daiwa Securities Group Inc. now owns 62,361 shares of the apparel retailer’s stock valued at $9,386,000 after buying an additional 6,499 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, 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.