Ross Stores Inc. (ROST) Given a $59.00 Price Target at Jefferies Group
Several other equities research analysts also recently commented on the company. Royal Bank Of Canada lifted their price objective on Ross Stores from $65.00 to $68.00 and gave the stock a sector perform rating in a report on Friday. RBC Capital Markets set a $68.00 price objective on Ross Stores and gave the stock a hold rating in a report on Friday. Wedbush restated an outperform rating and set a $71.00 price target (up from $67.00) on shares of Ross Stores in a research note on Friday. Telsey Advisory Group boosted their price target on Ross Stores from $68.00 to $70.00 and gave the company a market perform rating in a research note on Friday. Finally, Zacks Investment Research downgraded Ross Stores from a buy rating to a hold rating in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $66.52.
Ross Stores (NASDAQ:ROST) remained flat at $68.00 during midday trading on Friday. 1,211,412 shares of the stock were exchanged. The company has a 50 day moving average price of $63.60 and a 200 day moving average price of $59.95. The company has a market capitalization of $26.97 billion, a PE ratio of 25.89 and a beta of 0.94. Ross Stores has a one year low of $49.06 and a one year high of $68.84.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.06. The firm earned $3.10 billion during the quarter. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. Ross Stores’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. Equities research analysts anticipate that Ross Stores will post $2.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s payout ratio is 19.85%.
In related news, insider James S. Fassio sold 12,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total transaction of $760,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Quesnel sold 16,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total value of $1,030,240.00. Following the sale, the director now owns 19,370 shares of the company’s stock, valued at $1,247,234.30. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Ross Stores by 69.7% in the third quarter. D.A. Davidson & CO. now owns 66,371 shares of the apparel retailer’s stock worth $4,263,000 after buying an additional 27,269 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Ross Stores during the third quarter worth $5,842,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Ross Stores by 19.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,761,511 shares of the apparel retailer’s stock worth $1,463,565,000 after buying an additional 3,702,651 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Ross Stores by 79.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 247,638 shares of the apparel retailer’s stock worth $15,921,000 after buying an additional 109,693 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Ross Stores by 9.0% in the third quarter. Credit Suisse AG now owns 997,111 shares of the apparel retailer’s stock worth $64,115,000 after buying an additional 82,447 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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