Ross Stores (NASDAQ:ROST – Free Report) had its target price hoisted by Wells Fargo & Company from $135.00 to $140.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the apparel retailer’s stock.
A number of other research firms have also recently commented on ROST. Bank of America boosted their price target on Ross Stores from $135.00 to $140.00 and gave the stock a buy rating in a report on Friday, August 18th. Gordon Haskett raised shares of Ross Stores from an accumulate rating to a buy rating and set a $135.00 target price on the stock in a research note on Friday, November 3rd. TD Cowen increased their price target on Ross Stores from $128.00 to $132.00 and gave the company an outperform rating in a research note on Friday, August 18th. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $135.00 to $137.00 and gave the stock an overweight rating in a research report on Friday, August 18th. Finally, Robert W. Baird boosted their price target on Ross Stores from $125.00 to $135.00 in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Ross Stores currently has an average rating of Moderate Buy and a consensus price target of $129.38.
Ross Stores Stock Up 0.5 %
Ross Stores (NASDAQ:ROST – Get Free Report) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Ross Stores had a return on equity of 39.34% and a net margin of 8.75%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. On average, equities analysts predict that Ross Stores will post 5.24 EPS for the current fiscal year.
Ross Stores Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 5th will be given a $0.335 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $1.34 dividend on an annualized basis and a yield of 1.04%. Ross Stores’s payout ratio is 26.53%.
Insider Buying and Selling at Ross Stores
In related news, CMO Brian R. Morrow sold 25,945 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $121.53, for a total value of $3,153,095.85. Following the completion of the transaction, the chief marketing officer now directly owns 67,033 shares of the company’s stock, valued at approximately $8,146,520.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Brian R. Morrow sold 25,945 shares of Ross Stores stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $121.53, for a total value of $3,153,095.85. Following the completion of the transaction, the chief marketing officer now owns 67,033 shares of the company’s stock, valued at approximately $8,146,520.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael K. Kobayashi sold 20,749 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $111.73, for a total value of $2,318,285.77. Following the transaction, the insider now directly owns 71,413 shares in the company, valued at approximately $7,978,974.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,948 shares of company stock valued at $10,643,727. Corporate insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ROST. Diversified Trust Co boosted its position in Ross Stores by 72.3% in the third quarter. Diversified Trust Co now owns 7,399 shares of the apparel retailer’s stock valued at $836,000 after buying an additional 3,104 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Ross Stores by 3.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 13,596 shares of the apparel retailer’s stock valued at $1,536,000 after purchasing an additional 465 shares during the period. Creative Planning boosted its position in shares of Ross Stores by 12.4% during the 3rd quarter. Creative Planning now owns 53,463 shares of the apparel retailer’s stock valued at $6,039,000 after purchasing an additional 5,884 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Ross Stores in the third quarter valued at $462,000. Finally, Spouting Rock Asset Management LLC bought a new position in shares of Ross Stores in the 3rd quarter worth $487,000. Institutional investors own 84.79% 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 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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