Ross Stores, Inc. (ROST) Insider Sells $4,575,500.00 in Stock

Ross Stores, Inc. (NASDAQ:ROST) insider James S. Fassio sold 50,000 shares of Ross Stores stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.51, for a total value of $4,575,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ROST stock traded up $0.64 during mid-day trading on Monday, hitting $98.01. 1,423,200 shares of the stock were exchanged, compared to its average volume of 2,322,762. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. Ross Stores, Inc. has a 12 month low of $75.91 and a 12 month high of $104.35. The firm has a market cap of $35.90 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.07. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.05 billion. As a group, research analysts expect that Ross Stores, Inc. will post 4.49 EPS for the current fiscal year.

Ross Stores announced that its board has authorized a share repurchase plan on Tuesday, March 5th that authorizes the company to repurchase $2.55 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.23. Ross Stores’s payout ratio is 23.94%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Bollard Group LLC bought a new stake in shares of Ross Stores in the 4th quarter valued at about $25,000. CI Investments Inc. bought a new stake in shares of Ross Stores in the 4th quarter valued at about $26,000. First Manhattan Co. bought a new stake in shares of Ross Stores in the 1st quarter valued at about $27,000. Athena Capital Advisors LLC bought a new stake in shares of Ross Stores in the 4th quarter valued at about $29,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Ross Stores in the 4th quarter valued at about $30,000. 90.30% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on the company. BidaskClub raised Ross Stores from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Credit Suisse Group lifted their price objective on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Wells Fargo & Co lifted their price objective on Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, Loop Capital lifted their price objective on Ross Stores to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Ross Stores has an average rating of “Buy” and a consensus price target of $97.42.

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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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Insider Buying and Selling by Quarter for Ross Stores (NASDAQ:ROST)

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