Ross Stores (NASDAQ:ROST) Price Target Raised to $154.00

Ross Stores (NASDAQ:ROST) had its price target boosted by JPMorgan Chase & Co. from $141.00 to $154.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the apparel retailer’s stock.

ROST has been the subject of several other reports. Wells Fargo & Company reduced their price target on Ross Stores from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Evercore ISI reduced their price target on Ross Stores from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. UBS Group decreased their target price on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Citigroup upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 target price on the stock in a research report on Thursday, April 3rd. Finally, Robert W. Baird decreased their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.53.

Ross Stores Stock Down 1.2%

Ross Stores stock opened at $131.85 on Friday. Ross Stores has a twelve month low of $122.36 and a twelve month high of $163.60. The stock has a 50 day moving average of $141.73 and a two-hundred day moving average of $142.59. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $43.36 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.13 and a beta of 1.14.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores’s payout ratio is currently 25.59%.

Insider Activity at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now owns 139,091 shares of the company’s stock, valued at approximately $17,760,529.79. This trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the transaction, the chairman now directly owns 59,790 shares of the company’s stock, valued at $7,868,364. The trade was a 15.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock valued at $4,439,950 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

Several hedge funds have recently bought and sold shares of the stock. ICW Investment Advisors LLC increased its position in Ross Stores by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer’s stock worth $2,359,000 after buying an additional 67 shares in the last quarter. CreativeOne Wealth LLC increased its position in Ross Stores by 3.8% during the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer’s stock worth $247,000 after buying an additional 70 shares in the last quarter. Golden State Wealth Management LLC increased its position in Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after buying an additional 73 shares in the last quarter. Forum Financial Management LP increased its position in Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after buying an additional 74 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Ross Stores by 6.1% during the first quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer’s stock worth $164,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

About Ross Stores

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.