Ross Stores (NASDAQ:ROST) saw some unusual options trading activity on Wednesday. Traders purchased 20,081 call options on the stock. This is an increase of approximately 5,129% compared to the typical daily volume of 384 call options.
ROST has been the topic of a number of analyst reports. Susquehanna Bancshares set a $95.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Loop Capital initiated coverage on shares of Ross Stores in a report on Thursday, March 8th. They set a “buy” rating and a $85.00 target price on the stock. Cowen set a $85.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Finally, Credit Suisse Group initiated coverage on shares of Ross Stores in a report on Monday, March 12th. They set an “outperform” rating and a $88.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Ross Stores presently has a consensus rating of “Buy” and a consensus price target of $81.86.
In other news, Director Sharon D. Garrett sold 26,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total value of $2,003,820.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 32,430 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total transaction of $2,579,157.90. Following the completion of the sale, the chief executive officer now directly owns 534,318 shares in the company, valued at approximately $42,494,310.54. The disclosure for this sale can be found here. In the last three months, insiders sold 256,652 shares of company stock worth $19,829,016. Insiders own 2.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Jaffetilchin Investment Partners LLC purchased a new position in Ross Stores in the 4th quarter worth approximately $837,000. Pennsylvania Trust Co grew its stake in Ross Stores by 77.9% in the 4th quarter. Pennsylvania Trust Co now owns 6,848 shares of the apparel retailer’s stock worth $550,000 after buying an additional 2,998 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Ross Stores by 0.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 401,156 shares of the apparel retailer’s stock worth $25,903,000 after buying an additional 3,212 shares in the last quarter. Timber Hill LLC purchased a new position in Ross Stores in the 4th quarter worth approximately $911,000. Finally, First Trust Advisors LP grew its stake in Ross Stores by 43.1% in the 4th quarter. First Trust Advisors LP now owns 252,759 shares of the apparel retailer’s stock worth $20,284,000 after buying an additional 76,167 shares in the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.
ROST stock opened at $78.89 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. Ross Stores has a one year low of $52.85 and a one year high of $85.66. The company has a market capitalization of $29,824.89, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.94 and a beta of 1.08.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.95 billion. equities research analysts forecast that Ross Stores will post 4.06 earnings per share for the current fiscal year.
Ross Stores declared that its board has approved a share buyback program on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Monday, March 19th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, March 16th. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is currently 26.95%.
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Ross Stores Company Profile
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. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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