Ross Stores, Inc. (NASDAQ:ROST) Stock Has Average Target Price of $263.76

Ross Stores, Inc. (NASDAQ:ROST) has earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $263.76.

A number of research analysts have commented on ROST shares. Robert W. Baird raised their price target on shares of Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. upped their price objective on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Barclays increased their target price on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Finally, Telsey Advisory Group raised their target price on Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th.

Insiders Place Their Bets

In other Ross Stores news, insider Stephen Brinkley sold 6,424 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the transaction, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Conroy sold 49,205 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the transaction, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds have recently made changes to their positions in ROST. Wellington Management Group LLP lifted its holdings in Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after acquiring an additional 3,118,591 shares in the last quarter. United Capital Financial Advisors LLC bought a new stake in shares of Ross Stores in the second quarter worth about $3,390,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Ross Stores in the second quarter worth about $34,867,000. NewEdge Advisors LLC increased its holdings in shares of Ross Stores by 40.6% in the second quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer’s stock worth $3,694,000 after acquiring an additional 5,012 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC raised its position in shares of Ross Stores by 459.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 26,095 shares of the apparel retailer’s stock worth $5,653,000 after purchasing an additional 21,431 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Trading Up 0.9%

Shares of Ross Stores stock opened at $236.89 on Tuesday. Ross Stores has a 52-week low of $154.87 and a 52-week high of $257.00. The firm has a market capitalization of $75.67 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The company’s fifty day moving average price is $232.82 and its two-hundred day moving average price is $229.41.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts expect that Ross Stores will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were given a $0.4450 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s dividend payout ratio is 21.55%.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.