Stock Traders Buy High Volume of Ross Stores Call Options (ROST)
Ross Stores, Inc. (NASDAQ:ROST) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 2,944 call options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 call options.
Several research firms have recently commented on ROST. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 target price on shares of Ross Stores in a research report on Monday, September 18th. Wolfe Research decreased their target price on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Ross Stores in a research report on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.21.
Shares of Ross Stores (ROST) opened at $65.69 on Friday. The company has a market cap of $25,330.00, a P/E ratio of 21.28, a P/E/G ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.64. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. research analysts predict that Ross Stores will post 3.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.97%. Ross Stores’s payout ratio is currently 21.12%.
In other news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Herndon Capital Management LLC lifted its stake in shares of Ross Stores by 85.6% during the 2nd quarter. Herndon Capital Management LLC now owns 202,917 shares of the apparel retailer’s stock valued at $11,715,000 after buying an additional 93,559 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Ross Stores during the 3rd quarter valued at approximately $646,000. Hendershot Investments Inc. lifted its stake in shares of Ross Stores by 104.8% during the 3rd quarter. Hendershot Investments Inc. now owns 31,927 shares of the apparel retailer’s stock valued at $2,062,000 after buying an additional 16,340 shares in the last quarter. Andra AP fonden lifted its stake in shares of Ross Stores by 8.5% during the 3rd quarter. Andra AP fonden now owns 105,100 shares of the apparel retailer’s stock valued at $6,786,000 after buying an additional 8,200 shares in the last quarter. Finally, PGGM Investments lifted its stake in shares of Ross Stores by 47.8% during the 3rd quarter. PGGM Investments now owns 720,055 shares of the apparel retailer’s stock valued at $46,494,000 after buying an additional 232,899 shares in the last quarter. Institutional investors own 90.51% of the company’s stock.
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About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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