Ross Stores, Inc. (ROST) Insider Brian R. Morrow Sells 18,282 Shares
Ross Stores, Inc. (NASDAQ:ROST) insider Brian R. Morrow sold 18,282 shares of Ross Stores stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $78.50, for a total value of $1,435,137.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Ross Stores stock traded down $2.35 on Thursday, reaching $75.06. The company’s stock had a trading volume of 1,668,188 shares, compared to its average volume of 2,680,432. The firm has a market cap of $29,543.71, a P/E ratio of 21.23, a PEG ratio of 1.92 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week 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 announced its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. equities research analysts forecast that Ross Stores, Inc. will post 4.03 EPS for the current fiscal year.
Ross Stores declared that its Board of Directors has approved a stock buyback program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently issued reports on ROST shares. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Wells Fargo reiterated a “buy” rating and issued a $86.00 price target (down previously from $91.00) on shares of Ross Stores in a research note on Wednesday, March 7th. Cowen set a $85.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Wednesday, March 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $81.86.
A number of institutional investors and hedge funds have recently made changes to their positions in ROST. Cerebellum GP LLC acquired a new position in Ross Stores during the 4th quarter worth about $132,000. Zions Bancorporation lifted its holdings in Ross Stores by 338.9% during the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after buying an additional 1,637 shares during the period. Sit Investment Associates Inc. lifted its holdings in Ross Stores by 255.1% during the 4th quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after buying an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Ross Stores during the 4th quarter worth about $159,000. Finally, Financial Gravity Companies Inc. acquired a new position in Ross Stores during the 4th quarter worth about $164,000. 89.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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