Weekly Analysts’ Ratings Updates for Ross Stores (ROST)

Several analysts have recently updated their ratings and price targets for Ross Stores (NASDAQ: ROST):

• 9/6/2024 – Ross Stores was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/23/2024 – Ross Stores was upgraded by analysts at Gordon Haskett to a “strong-buy” rating.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Wells Fargo & Company from $160.00 to $175.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Morgan Stanley from $163.00 to $178.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Barclays PLC from $165.00 to $175.00. They now have an “overweight” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Robert W. Baird from $162.00 to $180.00. They now have an “outperform” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at UBS Group AG from $147.00 to $167.00. They now have a “neutral” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Telsey Advisory Group from $160.00 to $175.00. They now have a “market perform” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Loop Capital from $170.00 to $190.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at TD Cowen from $173.00 to $185.00. They now have a “buy” rating on the stock.
• 8/23/2024 – Ross Stores had its price target raised by analysts at Bank of America Co. from $170.00 to $180.00. They now have a “buy” rating on the stock.
• 8/16/2024 – Ross Stores had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $160.00 price target on the stock.
• 8/9/2024 – Ross Stores had its price target lowered by analysts at TD Cowen from $176.00 to $173.00. They now have a “buy” rating on the stock.

Ross Stores Price Performance

ROST opened at $152.68 on Friday. Ross Stores, Inc. has a 1 year low of $108.35 and a 1 year high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The company’s 50 day simple moving average is $146.66 and its 200 day simple moving average is $142.99. The stock has a market capitalization of $50.93 billion, a PE ratio of 25.75, a P/E/G ratio of 2.45 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. As a group, sell-side analysts expect that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Transactions at Ross Stores

In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 48,885 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Ross Stores

A number of hedge funds have recently made changes to their positions in ROST. Cary Street Partners Investment Advisory LLC increased its stake in Ross Stores by 1,010.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,388 shares of the apparel retailer’s stock worth $330,000 after buying an additional 2,173 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of Ross Stores during the fourth quarter worth about $229,000. QRG Capital Management Inc. lifted its stake in shares of Ross Stores by 19.5% in the fourth quarter. QRG Capital Management Inc. now owns 11,244 shares of the apparel retailer’s stock worth $1,556,000 after acquiring an additional 1,837 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Ross Stores by 5.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,862 shares of the apparel retailer’s stock valued at $1,780,000 after purchasing an additional 683 shares during the last quarter. Finally, Forum Financial Management LP acquired a new stake in Ross Stores during the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.