Ross Stores, Inc. (NASDAQ:ROST) Chairman Michael Balmuth sold 51,207 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $67.29, for a total transaction of $3,445,719.03. Following the transaction, the chairman now directly owns 145,666 shares in the company, valued at $9,801,865.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at 66.46 on Tuesday. Ross Stores, Inc. has a 52-week low of $52.00 and a 52-week high of $69.81. The firm has a 50-day moving average of $67.41 and a 200 day moving average of $65.57. The company has a market capitalization of $25.80 billion, a P/E ratio of 23.48 and a beta of 0.94.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, February 28th. The apparel retailer reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.46 billion. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. Ross Stores’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, analysts anticipate that Ross Stores, Inc. will post $3.15 EPS for the current year.

Insider Buying and Selling by Quarter for Ross Stores (NASDAQ:ROST)

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from Ross Stores’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, March 8th. Ross Stores’s dividend payout ratio (DPR) is currently 19.85%.

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A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Northcoast Research reaffirmed a “neutral” rating on shares of Ross Stores in a research report on Wednesday, March 1st. Royal Bank of Canada set a $70.00 price objective on shares of Ross Stores and gave the company a “hold” rating in a research report on Tuesday, February 28th. BMO Capital Markets boosted their price objective on shares of Ross Stores from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, March 1st. Finally, Instinet boosted their price objective on shares of Ross Stores from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.61.

Several hedge funds have recently made changes to their positions in ROST. A.R.T. Advisors LLC increased its position in Ross Stores by 1,419.0% in the fourth quarter. A.R.T. Advisors LLC now owns 127,600 shares of the apparel retailer’s stock valued at $8,370,000 after buying an additional 119,200 shares during the last quarter. Bank of Montreal Can increased its position in Ross Stores by 1.8% in the third quarter. Bank of Montreal Can now owns 363,575 shares of the apparel retailer’s stock valued at $23,378,000 after buying an additional 6,412 shares during the last quarter. Riverhead Capital Management LLC increased its position in Ross Stores by 1,431.8% in the third quarter. Riverhead Capital Management LLC now owns 133,453 shares of the apparel retailer’s stock valued at $8,581,000 after buying an additional 124,741 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Ross Stores by 3.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,194,892 shares of the apparel retailer’s stock valued at $76,832,000 after buying an additional 40,573 shares during the last quarter. Finally, Palisade Capital Management LLC NJ increased its position in Ross Stores by 12.7% in the third quarter. Palisade Capital Management LLC NJ now owns 86,347 shares of the apparel retailer’s stock valued at $5,552,000 after buying an additional 9,725 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About Ross Stores

Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company and its subsidiaries operate two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (Ross) and dd’s DISCOUNTS. Ross is an off-price apparel and home fashion chain in the United States, with approximately 1,274 locations in over 34 states, the District of Columbia and Guam.

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