Ross Stores, Inc. (NASDAQ:ROST) CMO Karen Sykes Sells 5,036 Shares of Stock

Ross Stores, Inc. (NASDAQ:ROST) CMO Karen Sykes sold 5,036 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total transaction of $657,097.28. Following the transaction, the chief marketing officer now owns 110,365 shares in the company, valued at $14,400,425.20. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ross Stores Price Performance

Shares of ROST stock opened at $130.31 on Friday. The stock’s 50-day moving average is $135.91 and its 200 day moving average is $144.03. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The company has a market cap of $42.85 billion, a P/E ratio of 20.52, a PEG ratio of 2.13 and a beta of 1.11.

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. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on ROST. Citigroup raised Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 target price on the stock in a research note on Thursday. Morgan Stanley cut their price objective on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company reiterated a “negative” rating on shares of Ross Stores in a research report on Wednesday, March 5th. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Norges Bank acquired a new stake in Ross Stores in the fourth quarter worth about $649,318,000. Price T Rowe Associates Inc. MD boosted its stake in Ross Stores by 25.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after purchasing an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Ross Stores during the 4th quarter worth approximately $230,204,000. Finally, Wellington Management Group LLP increased its stake in Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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 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.