Ross Stores (ROST) Price Target Raised to $95.00 at Nomura
Ross Stores (NASDAQ:ROST) had its price target raised by Nomura from $90.00 to $95.00 in a research note released on Friday, The Fly reports. They currently have a buy rating on the apparel retailer’s stock.
Other analysts also recently issued reports about the company. BidaskClub downgraded Ross Stores from a strong-buy rating to a buy rating in a report on Thursday, July 12th. Zacks Investment Research downgraded Ross Stores from a buy rating to a hold rating in a report on Monday, July 23rd. Cowen set a $101.00 price target on Ross Stores and gave the stock a buy rating in a report on Monday, July 30th. Citigroup lifted their price target on Ross Stores from $83.00 to $89.00 and gave the stock a neutral rating in a report on Tuesday, July 31st. Finally, Telsey Advisory Group lifted their price target on Ross Stores from $98.00 to $105.00 and gave the stock an outperform rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $93.39.
Shares of NASDAQ ROST opened at $95.09 on Friday. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.30 and a beta of 1.07. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. Ross Stores has a 1 year low of $57.87 and a 1 year high of $97.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.95%. Ross Stores’s payout ratio is currently 26.95%.
In other news, Director Michael J. Bush sold 1,500 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $85.73, for a total value of $128,595.00. Following the completion of the sale, the director now directly owns 30,091 shares of the company’s stock, valued at approximately $2,579,701.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James S. Fassio sold 175,769 shares of the business’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $86.57, for a total value of $15,216,322.33. Following the completion of the sale, the insider now directly owns 82,899 shares of the company’s stock, valued at $7,176,566.43. The disclosure for this sale can be found here. Insiders sold a total of 236,268 shares of company stock valued at $20,170,488 over the last three months. Company insiders own 2.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ROST. Rockefeller Capital Management L.P. purchased a new stake in Ross Stores during the 1st quarter valued at approximately $116,256,000. Voya Investment Management LLC raised its stake 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 valued at $149,986,000 after acquiring an additional 1,400,405 shares during the last quarter. American Century Companies Inc. raised its stake in Ross Stores by 35.2% during the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock valued at $241,842,000 after acquiring an additional 807,366 shares during the last quarter. Marshall Wace LLP raised its stake in Ross Stores by 3,515.8% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Ross Stores by 15.6% during 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 last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
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 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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