Michael Balmuth Sells 11,261 Shares of Ross Stores, Inc. (NASDAQ:ROST) Stock

Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth sold 11,261 shares of Ross Stores stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the sale, the chairman now owns 59,790 shares of the company’s stock, valued at $7,868,364. This represents a 15.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $130.31 on Monday. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market cap of $42.85 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The stock’s fifty day simple moving average is $135.91 and its two-hundred day simple moving average is $143.98.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.24%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is currently 25.63%.

Hedge Funds Weigh In On Ross Stores

Several institutional investors have recently bought and sold shares of the company. Peapack Gladstone Financial Corp raised its stake in Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock valued at $588,000 after acquiring an additional 70 shares during the period. Forum Financial Management LP raised its position in shares of Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock valued at $223,000 after purchasing an additional 74 shares during the period. Alhambra Investment Management LLC lifted its stake in shares of Ross Stores by 5.2% during the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock valued at $234,000 after buying an additional 76 shares in the last quarter. Key Financial Inc boosted its holdings in Ross Stores by 13.2% in the 4th quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock worth $100,000 after buying an additional 77 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in Ross Stores by 2.6% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer’s stock valued at $470,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

ROST has been the subject of a number of research reports. Evercore ISI reduced their price target on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Loop Capital reduced their target price on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Barclays set a $150.00 target price on Ross Stores in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Finally, Morgan Stanley decreased their price objective on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

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.