Ross Stores, Inc. (NASDAQ:ROST) COO Sells $956,653.48 in Stock

Ross Stores, Inc. (NASDAQ:ROST) COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ross Stores Stock Performance

Ross Stores stock opened at $129.09 on Friday. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The firm’s 50 day simple moving average is $138.28 and its 200-day simple moving average is $145.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company has a market cap of $42.59 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.25%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, March 18th. Ross Stores’s payout ratio is presently 25.63%.

Institutional Investors Weigh In On Ross Stores

Several hedge funds have recently bought and sold shares of ROST. Larson Financial Group LLC increased its holdings in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in Ross Stores during the fourth quarter valued at approximately $31,000. ORG Partners LLC increased its stake in Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after buying an additional 191 shares during the period. Putney Financial Group LLC purchased a new stake in Ross Stores in the 4th quarter worth approximately $44,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Ross Stores during the 4th quarter valued at $48,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird lowered their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. BMO Capital Markets cut their target price on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley lowered their price target on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Finally, Evercore ISI cut their price objective on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.40.

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.