Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) Price Target at $160.67

Ross Stores, Inc. (NASDAQ:ROST) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $160.6667.

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ross Stores in a research note on Saturday, September 27th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 target price (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Morgan Stanley upped their target price on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. upped their target price on Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Finally, Robert W. Baird upped their target price on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd.

Ross Stores Trading Down 2.3%

Shares of ROST stock opened at $152.64 on Friday. Ross Stores has a 1 year low of $122.36 and a 1 year high of $158.69. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $147.38 and its two-hundred day simple moving average is $140.16. The company has a market cap of $49.64 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.93 and a beta of 1.18.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Research analysts predict that Ross Stores will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.1%. Ross Stores’s dividend payout ratio is 25.71%.

Insider Buying and Selling

In related news, CMO Karen Fleming sold 2,932 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares of the company’s stock, valued at $13,169,865.15. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Grant Conroy sold 39,351 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total value of $5,745,246.00. Following the completion of the transaction, the chief executive officer directly owned 157,153 shares in the company, valued at approximately $22,944,338. This trade represents a 20.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,283 shares of company stock valued at $6,789,418 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Ross Stores by 5.7% in the third quarter. GAMMA Investing LLC now owns 7,020 shares of the apparel retailer’s stock worth $1,070,000 after purchasing an additional 380 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Ross Stores by 9.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,102 shares of the apparel retailer’s stock worth $268,000 after buying an additional 174 shares during the period. Osaic Holdings Inc. lifted its holdings in Ross Stores by 10.8% during the second quarter. Osaic Holdings Inc. now owns 28,220 shares of the apparel retailer’s stock worth $3,602,000 after buying an additional 2,750 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in Ross Stores by 5.8% during the second quarter. Orion Porfolio Solutions LLC now owns 13,115 shares of the apparel retailer’s stock worth $1,673,000 after buying an additional 716 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH purchased a new stake in Ross Stores during the second quarter worth $960,000. Institutional investors own 86.86% of the company’s stock.

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.