Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth sold 25,689 shares of Ross Stores stock in a transaction on Friday, March 16th. The shares were sold at an average price of $76.84, for a total transaction of $1,973,942.76. Following the transaction, the chairman now owns 120,703 shares in the company, valued at approximately $9,274,818.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Michael Balmuth also recently made the following trade(s):
- On Monday, March 12th, Michael Balmuth sold 59,777 shares of Ross Stores stock. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81.
Ross Stores, Inc. (NASDAQ:ROST) traded up $0.18 on Tuesday, hitting $77.22. 880,672 shares of the stock traded hands, compared to its average volume of 2,700,953. The company has a market cap of $29,329.71, a P/E ratio of 21.75, a P/E/G ratio of 1.90 and a beta of 1.09. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $85.66. 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 (NASDAQ:ROST) last released its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. sell-side analysts expect that Ross Stores, Inc. will post 4.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 19th will be given a $0.225 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is presently 25.35%.
Ross Stores announced that its board has authorized a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Amundi Pioneer Asset Management Inc. increased its position in shares of Ross Stores by 63.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock valued at $104,464,000 after buying an additional 1,600,027 shares during the last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of Ross Stores during the 4th quarter valued at about $117,845,000. Wells Fargo & Company MN grew its position in shares of Ross Stores by 39.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock valued at $236,257,000 after buying an additional 1,029,990 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Ross Stores by 58.1% during the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock valued at $160,922,000 after buying an additional 736,599 shares during the last quarter. 89.57% of the stock is owned by institutional investors.
Several research firms recently weighed in on ROST. BMO Capital Markets restated a “hold” rating and set a $78.00 target price on shares of Ross Stores in a report on Wednesday, March 7th. Jefferies Group reaffirmed a “hold” rating and set a $73.00 price target on shares of Ross Stores in a research note on Wednesday, March 7th. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. Morgan Stanley lifted their price target on shares of Ross Stores from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 7th. Finally, Nomura reaffirmed a “buy” rating and set a $90.00 price target (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $81.86.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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