Ross Stores (NASDAQ:ROST) Hits New 1-Year High – What’s Next?

Ross Stores, Inc. (NASDAQ:ROST)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $162.55 and last traded at $162.5560, with a volume of 968271 shares. The stock had previously closed at $161.20.

Analyst Ratings Changes

A number of brokerages have commented on ROST. BTIG Research initiated coverage on shares of Ross Stores in a research report on Tuesday, October 14th. They issued a “neutral” rating on the stock. UBS Group raised their price objective on shares of Ross Stores from $147.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a report on Tuesday, October 14th. Wells Fargo & Company raised their price objective on shares of Ross Stores from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Erste Group Bank initiated coverage on shares of Ross Stores in a report on Friday, October 31st. They issued a “buy” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.73.

Ross Stores Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The stock’s 50-day moving average is $152.90 and its 200 day moving average is $144.08. The stock has a market capitalization of $52.11 billion, a PE ratio of 25.43, a P/E/G ratio of 3.04 and a beta of 1.16.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.59 EPS. As a group, equities analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Ross Stores’s dividend payout ratio (DPR) is presently 25.71%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CEO James Grant Conroy sold 39,351 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the transaction, the chief executive officer directly owned 157,153 shares of the company’s stock, valued at approximately $22,944,338. This trade represents a 20.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Karen Fleming sold 2,932 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the transaction, the chief marketing officer directly owned 88,335 shares in the company, valued at $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 52,720 shares of company stock valued at $7,761,212. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Ross Stores

Hedge funds have recently made changes to their positions in the company. Aspect Partners LLC lifted its stake in shares of Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after acquiring an additional 146 shares during the period. American National Bank & Trust acquired a new stake in shares of Ross Stores in the 3rd quarter worth $26,000. Banque Transatlantique SA acquired a new stake in shares of Ross Stores in the 1st quarter worth $29,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Ross Stores in the 3rd quarter worth $29,000. Finally, Bayforest Capital Ltd lifted its stake in shares of Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds 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.