Larree M. Renda Sells 4,168 Shares of Ross Stores, Inc. (NASDAQ:ROST) Stock

Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) Director Larree M. Renda sold 4,168 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the sale, the director now owns 3,166 shares of the company's stock, valued at approximately $468,219.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ross Stores Stock Performance

Shares of ROST stock traded down $1.67 on Monday, hitting $145.09. 1,533,221 shares of the stock were exchanged, compared to its average volume of 1,971,031. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $48.85 billion, a PE ratio of 26.10, a P/E/G ratio of 2.09 and a beta of 1.04. Ross Stores, Inc. has a one year low of $99.00 and a one year high of $151.12. The firm's 50 day moving average is $145.18 and its two-hundred day moving average is $132.26.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 annualized dividend and a yield of 1.01%. This is an increase from Ross Stores's previous quarterly dividend of $0.34. Ross Stores's dividend payout ratio (DPR) is currently 26.44%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROST. JPMorgan Chase & Co. upped their price target on Ross Stores from $150.00 to $163.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. UBS Group upped their price target on Ross Stores from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Wednesday, March 6th. Loop Capital upped their price objective on Ross Stores from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Barclays raised their target price on Ross Stores from $160.00 to $163.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley raised their target price on Ross Stores from $155.00 to $161.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.21.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in shares of Ross Stores by 5.7% during the 4th quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer's stock valued at $41,832,000 after acquiring an additional 16,167 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Ross Stores during the 3rd quarter valued at about $503,000. Arrow Investment Advisors LLC bought a new stake in shares of Ross Stores during the 2nd quarter valued at about $205,000. California Public Employees Retirement System boosted its position in shares of Ross Stores by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 673,713 shares of the apparel retailer's stock valued at $76,096,000 after acquiring an additional 30,056 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Ross Stores during the 3rd quarter valued at about $8,322,000. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.