Ross Stores (NASDAQ:ROST) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on ROST shares. Morgan Stanley lifted their target price on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. Erste Group Bank started coverage on shares of Ross Stores in a research report on Friday. They issued a “buy” rating on the stock. Robert W. Baird upped their price objective on shares of Ross Stores from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 22nd. Citigroup raised their target price on shares of Ross Stores from $146.00 to $171.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ross Stores in a research note on Tuesday, October 14th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.67.

Ross Stores Stock Performance

The company has a market capitalization of $52.76 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.04 and a beta of 1.18. 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 fifty day simple moving average is $152.16 and its 200-day simple moving average is $143.68.

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

Ross Stores Announces Dividend

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

Insider Activity at Ross Stores

In other Ross Stores news, CEO James Grant Conroy sold 39,351 shares of the stock in a transaction that occurred 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 owned 157,153 shares of the company’s stock, valued at $22,944,338. This trade represents a 20.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen C. Brinkley sold 6,437 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the sale, the insider owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 52,720 shares of company stock worth $7,761,212. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ross Stores

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American National Bank & Trust acquired a new position in shares of Ross Stores during the third quarter worth $26,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Ross Stores during the third quarter valued at about $29,000. Aspect Partners LLC increased its position in shares of Ross Stores by 251.7% during the second 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 last quarter. Golden State Wealth Management LLC lifted its stake in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 148 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

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. 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.