Ross Stores (NASDAQ:ROST) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Ross Stores, Inc. (NASDAQ:ROST) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $230.80 and traded as high as $232.95. Ross Stores shares last traded at $231.60, with a volume of 2,309,330 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on ROST shares. Jefferies Financial Group boosted their target price on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 21st. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Wall Street Zen raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group upgraded Ross Stores from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $239.00 to $315.00 in a report on Monday, October 26th. Finally, Robert W. Baird upped their target price on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.06.

Ross Stores Trading Up 0.4%

The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $230.80 and its 200 day moving average price is $222.45. The company has a market capitalization of $73.98 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.06 and a beta of 0.85.

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

Ross Stores Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Ross Stores

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Ross Stores in the second quarter valued at $5,938,711,000. State Street Corp grew its stake in shares of Ross Stores by 5.3% during the 2nd quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer’s stock worth $3,116,902,000 after acquiring an additional 734,009 shares during the period. Bank of America Corp DE bought a new position in shares of Ross Stores during the 2nd quarter worth $2,024,203,000. Primecap Management Co. CA purchased a new stake in Ross Stores in the 2nd quarter worth about $1,937,995,000. Finally, Wellington Management Group LLP increased its holdings in Ross Stores by 89.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after acquiring an additional 3,118,591 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

About Ross Stores

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.