Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) Price Target at $160.67

Shares of Ross Stores, Inc. (NASDAQ:ROST) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $160.6667.

Several analysts have recently commented on the company. Barclays increased their price objective on Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Morgan Stanley increased their price objective on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ross Stores in a report on Saturday, September 27th. Wells Fargo & Company increased their price objective on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd.

Ross Stores Stock Down 2.3%

Ross Stores stock opened at $152.64 on Friday. The business has a fifty day moving average of $147.38 and a two-hundred day moving average of $140.16. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market cap of $49.64 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.93 and a beta of 1.18. Ross Stores has a twelve month low of $122.36 and a twelve month high of $158.69.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business earned $1.59 earnings per share. Ross Stores’s revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $0.405 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores’s dividend payout ratio (DPR) is 25.71%.

Insider Buying and Selling

In related news, CMO Karen Fleming sold 2,932 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the completion of the transaction, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Karen Sykes sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the transaction, the chief marketing officer owned 106,413 shares of the company’s stock, valued at $16,149,236.88. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,283 shares of company stock worth $6,789,418 in the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in Ross Stores by 93,700.0% during the 1st quarter. NBC Securities Inc. now owns 4,690 shares of the apparel retailer’s stock worth $599,000 after purchasing an additional 4,685 shares during the period. Merit Financial Group LLC grew its position in Ross Stores by 32.1% during the 1st quarter. Merit Financial Group LLC now owns 9,174 shares of the apparel retailer’s stock worth $1,172,000 after purchasing an additional 2,230 shares during the period. Fulton Bank N.A. grew its position in Ross Stores by 11.4% during the 1st quarter. Fulton Bank N.A. now owns 1,758 shares of the apparel retailer’s stock worth $225,000 after purchasing an additional 180 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Ross Stores by 4.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,894 shares of the apparel retailer’s stock worth $1,903,000 after purchasing an additional 608 shares during the period. Finally, Portside Wealth Group LLC grew its position in Ross Stores by 17.7% during the 1st quarter. Portside Wealth Group LLC now owns 2,697 shares of the apparel retailer’s stock worth $345,000 after purchasing an additional 406 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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. 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.