Ross Stores (NASDAQ:ROST) Sets New 52-Week High – Time to Buy?

Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high during trading on Tuesday . The company traded as high as $162.55 and last traded at $162.5560, with a volume of 968271 shares trading hands. The stock had previously closed at $161.20.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ROST shares. Robert W. Baird raised their price objective on shares of Ross Stores from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. Wells Fargo & Company upped their price objective on Ross Stores from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research report on Tuesday, October 14th. Finally, Barclays raised their target price on shares of Ross Stores from $156.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.67.

Ross Stores Trading Up 0.6%

The firm’s 50-day simple moving average is $152.16 and its 200 day simple moving average is $143.68. The stock has a market cap of $52.76 billion, a P/E ratio of 25.75, a PEG ratio of 3.04 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 earnings per share. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.0%. Ross Stores’s payout ratio is presently 25.71%.

Insider Transactions at Ross Stores

In other news, CMO Karen Fleming sold 2,932 shares of the company’s stock in a transaction 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 completion of the sale, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Karen Sykes sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the transaction, the chief marketing officer directly owned 106,413 shares of the company’s stock, valued at $16,149,236.88. This represents a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 52,720 shares of company stock valued at $7,761,212. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ross Stores

Several hedge funds have recently made changes to their positions in the business. Keeler Thomas Management LLC lifted its stake in Ross Stores by 6.2% during the third quarter. Keeler Thomas Management LLC now owns 14,975 shares of the apparel retailer’s stock valued at $2,282,000 after purchasing an additional 873 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Ross Stores by 14.5% in the third quarter. Atlantic Union Bankshares Corp now owns 950 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 120 shares in the last quarter. State of Wyoming lifted its position in shares of Ross Stores by 27.6% during the 3rd quarter. State of Wyoming now owns 3,051 shares of the apparel retailer’s stock valued at $465,000 after acquiring an additional 660 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Ross Stores by 7.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 74,859 shares of the apparel retailer’s stock worth $11,343,000 after acquiring an additional 5,352 shares in the last quarter. Finally, Mediolanum International Funds Ltd boosted its stake in shares of Ross Stores by 49.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 22,675 shares of the apparel retailer’s stock worth $3,443,000 after acquiring an additional 7,458 shares in the last quarter. Institutional investors and hedge funds 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.