Ross Stores (NASDAQ:ROST) Rating Reiterated by Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Ross Stores (NASDAQ:ROST) in a research report sent to investors on Tuesday, Benzinga reports. Telsey Advisory Group currently has a $175.00 price target on the apparel retailer’s stock.

ROST has been the topic of several other reports. Robert W. Baird lifted their target price on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. TD Cowen upped their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Barclays increased their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital boosted their price target on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, UBS Group increased their price objective on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Stock Performance

NASDAQ ROST opened at $139.01 on Tuesday. The firm has a market cap of $46.12 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.34 and a beta of 1.09. The company has a 50-day simple moving average of $149.11 and a two-hundred day simple moving average of $143.53. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Ross Stores has a 12-month low of $113.45 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share 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 return on equity of 42.43% and a net margin of 9.82%. Ross Stores’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. On average, equities analysts forecast that Ross Stores will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.06%. Ross Stores’s dividend payout ratio (DPR) is currently 23.71%.

Insiders Place Their Bets

In other news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently made changes to their positions in ROST. KG&L Capital Management LLC boosted its stake in Ross Stores by 4.1% during the 3rd quarter. KG&L Capital Management LLC now owns 4,680 shares of the apparel retailer’s stock valued at $704,000 after purchasing an additional 183 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ross Stores by 13.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 149,104 shares of the apparel retailer’s stock valued at $22,442,000 after purchasing an additional 17,184 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ross Stores by 2.9% during the third quarter. Van ECK Associates Corp now owns 46,853 shares of the apparel retailer’s stock valued at $6,805,000 after purchasing an additional 1,301 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Ross Stores by 2.3% during the third quarter. Janney Montgomery Scott LLC now owns 40,488 shares of the apparel retailer’s stock valued at $6,094,000 after buying an additional 908 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Ross Stores by 22.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,995 shares of the apparel retailer’s stock worth $290,000 after buying an additional 363 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

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.