Ross Stores, Inc. (NASDAQ:ROST) was the recipient of a large decline in short interest in the month of September. As of September 28th, there was short interest totalling 5,642,042 shares, a decline of 30.0% from the September 14th total of 8,063,555 shares. Based on an average daily volume of 3,424,573 shares, the short-interest ratio is presently 1.6 days. Currently, 1.5% of the shares of the company are short sold.

ROST stock opened at $95.87 on Friday. The company has a market cap of $37.00 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.41 and a beta of 1.09. Ross Stores has a 1 year low of $62.34 and a 1 year high of $100.58. The company has a quick ratio of 0.85, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, research analysts expect that Ross Stores will post 4.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Thursday, September 13th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, September 12th. Ross Stores’s dividend payout ratio is 26.95%.

Several equities analysts have recently commented on ROST shares. Deutsche Bank boosted their target price on shares of Ross Stores from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, August 20th. BidaskClub upgraded shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. DA Davidson started coverage on shares of Ross Stores in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $96.00 target price for the company. Loop Capital boosted their target price on shares of Ross Stores from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 27th. Finally, Goldman Sachs Group started coverage on shares of Ross Stores in a research report on Monday, September 3rd. They issued a “neutral” rating and a $104.00 target price for the company. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $96.04.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the completion of the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ROST. Voya Investment Management LLC increased its position in Ross Stores by 379.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock worth $149,986,000 after purchasing an additional 1,400,405 shares in the last quarter. Marshall Wace LLP increased its position in Ross Stores by 3,515.8% in the 2nd quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after acquiring an additional 767,357 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ross Stores by 15.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after acquiring an additional 724,764 shares during the period. Jennison Associates LLC increased its position in Ross Stores by 70.2% in the 2nd quarter. Jennison Associates LLC now owns 1,710,090 shares of the apparel retailer’s stock valued at $144,930,000 after acquiring an additional 705,317 shares during the period. Finally, Millennium Management LLC increased its position in Ross Stores by 29.8% in the 1st quarter. Millennium Management LLC now owns 2,603,686 shares of the apparel retailer’s stock valued at $203,035,000 after acquiring an additional 598,433 shares during the period. Institutional investors and hedge funds own 88.24% 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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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