Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) Target Price at $159.06

Ross Stores, Inc. (NASDAQ:ROST) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $159.06.

Several equities analysts have recently weighed in on ROST shares. Guggenheim lifted their price target on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Evercore ISI lifted their price objective on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Morgan Stanley boosted their price target on Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, May 24th. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company upped their target price on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 24th.

Insider Activity at Ross Stores

In other news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Ross Stores by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock worth $4,243,740,000 after purchasing an additional 346,474 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Ross Stores by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after purchasing an additional 161,202 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Ross Stores by 14.6% in the 4th quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after purchasing an additional 601,031 shares in the last quarter. Norges Bank purchased a new stake in shares of Ross Stores in the 4th quarter worth $523,185,000. Finally, Bank of New York Mellon Corp increased its stake in Ross Stores by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,085,590 shares of the apparel retailer’s stock worth $452,841,000 after buying an additional 78,423 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $151.73 on Wednesday. The company has a market cap of $50.61 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $141.78 and a 200-day moving average price of $141.15. Ross Stores has a 52 week low of $108.35 and a 52 week high of $153.06.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. Equities analysts anticipate that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a $0.3675 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 0.97%. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

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.