Ross Stores, Inc. (ROST) Given Consensus Rating of “Buy” by Analysts
Ross Stores, Inc. (NASDAQ:ROST) has received a consensus rating of “Buy” from the twenty-nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $85.35.
ROST has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on shares of Ross Stores in a research note on Monday, March 12th. They issued an “outperform” rating and a $88.00 price target on the stock. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Deutsche Bank set a $91.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday, May 25th. Cowen set a $85.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Finally, Buckingham Research reaffirmed a “neutral” rating and issued a $86.00 price target (up previously from $82.00) on shares of Ross Stores in a research note on Wednesday, March 7th.
Shares of Ross Stores traded down $0.18, hitting $84.57, during trading on Monday, MarketBeat Ratings reports. The stock had a trading volume of 2,057,569 shares, compared to its average volume of 2,706,873. The firm has a market capitalization of $31.91 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. Ross Stores has a 12 month low of $52.85 and a 12 month high of $87.22. The company has a current ratio of 1.64, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10.
Ross Stores declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Tuesday, June 12th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, June 11th. Ross Stores’s payout ratio is currently 26.95%.
In other news, CEO Barbara Rentler sold 32,430 shares of Ross Stores stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the transaction, the chief executive officer now owns 534,318 shares of the company’s stock, valued at approximately $42,494,310.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Bush sold 1,500 shares of Ross Stores stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $85.73, for a total transaction of $128,595.00. Following the completion of the transaction, the director now directly owns 30,091 shares in the company, valued at approximately $2,579,701.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 296,169 shares of company stock worth $24,914,591. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of ROST. Amundi Pioneer Asset Management Inc. boosted its stake in Ross Stores by 63.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Ross Stores in the 1st quarter worth approximately $116,256,000. American Century Companies Inc. boosted its stake in Ross Stores by 35.2% in the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock worth $241,842,000 after purchasing an additional 807,366 shares in the last quarter. Millennium Management LLC boosted its stake in Ross Stores by 58.1% in the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock worth $160,922,000 after purchasing an additional 736,599 shares in the last quarter. Finally, Element Capital Management LLC acquired a new stake in Ross Stores in the 4th quarter worth approximately $49,775,000. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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