Karen Sykes Sells 4,000 Shares of Ross Stores (NASDAQ:ROST) Stock

Key Points

• Karen Sykes, the Chief Marketing Officer of Ross Stores, sold 4,000 shares at an average price of $151.76, resulting in a transaction worth $607,040, which decreased her ownership in the company by 3.62%.
• Ross Stores reported a net margin of 9.60% with earnings per share of $1.56, beating estimates, while the revenue increased 4.6% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.405, with an annualized rate of $1.62, representing a yield of 1.1% and a payout ratio of 25.71%.

Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ross Stores Stock Up 0.4%

Shares of NASDAQ:ROST traded up $0.62 during midday trading on Monday, reaching $151.57. 2,392,929 shares of the company were exchanged, compared to its average volume of 3,118,784. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $158.69. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $140.36 and a two-hundred day simple moving average of $137.77. The firm has a market cap of $49.57 billion, a PE ratio of 24.06, a P/E/G ratio of 2.90 and a beta of 1.15.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the business earned $1.59 EPS. The company's revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Evercore ISI decreased their price objective on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Telsey Advisory Group reissued a "market perform" rating and issued a $160.00 price objective (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Wall Street Zen downgraded shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley lifted their target price on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a report on Friday, August 22nd. Finally, Cowen reiterated a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.67.

Institutional Trading of Ross Stores

A number of institutional investors have recently bought and sold shares of the business. Aspect Partners LLC lifted its holdings in shares of Ross Stores by 251.7% during the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer's stock worth $26,000 after acquiring an additional 146 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares during the period. Banque Transatlantique SA bought a new stake in shares of Ross Stores during the 1st quarter worth approximately $29,000. Bayforest Capital Ltd lifted its holdings in shares of Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares during the period. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares during the period. 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.

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