Ross Stores (NASDAQ:ROST) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Ross Stores (NASDAQ:ROST) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $276.00 price objective on the apparel retailer’s stock.

Other equities analysts have also issued reports about the company. Barclays upped their target price on Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Sanford C. Bernstein lifted their price target on Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. Bank of America reduced their price objective on Ross Stores from $265.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings raised Ross Stores from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 30th. Finally, Citigroup lifted their target price on Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $277.72.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $237.24 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $231.64 and its two-hundred day simple moving average is $224.12. Ross Stores has a 1-year low of $157.73 and a 1-year high of $257.00. The stock has a market cap of $75.79 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. As a group, analysts forecast that Ross Stores will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.4450 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is presently 21.55%.

Insider Buying and Selling

In related news, insider Stephen C. Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the sale, the insider owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares in the company, valued at approximately $30,830,408.52. This trade represents a 26.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Advisory Services Inc. boosted its stake in shares of Ross Stores by 13.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 13,170 shares of the apparel retailer’s stock valued at $3,074,000 after purchasing an additional 1,594 shares in the last quarter. NWK Group Inc. grew its position in shares of Ross Stores by 0.3% in the 3rd quarter. NWK Group Inc. now owns 24,601 shares of the apparel retailer’s stock worth $5,742,000 after buying an additional 79 shares during the last quarter. State Street Corp increased its position in Ross Stores by 3.8% during the 3rd quarter. State Street Corp now owns 15,193,400 shares of the apparel retailer’s stock valued at $3,546,140,000 after purchasing an additional 549,744 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its stake in Ross Stores by 52.5% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,721 shares of the apparel retailer’s stock worth $635,000 after buying an additional 937 shares in the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new position in shares of Ross Stores in the 3rd quarter valued at approximately $5,648,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc. is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season. Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products. The company traces its origins to a department store founded in San Bruno, California, in 1950.