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Stephen Brinkley Sells 6,437 Shares of Ross Stores (NASDAQ:ROST) Stock

Ross Stores logo with Retail/Wholesale background

Key Points

  • Stephen Brinkley, an insider at Ross Stores, sold 6,437 shares of the company's stock for approximately $971,793, decreasing his ownership by 10.15%.
  • Ross Stores reported an EPS of $1.56 for the last quarter, which exceeded analysts' expectations, with a revenue of $5.53 billion.
  • The company recently announced a quarterly dividend of $0.405 per share, translating to an annualized yield of 1.1%.
  • MarketBeat previews the top five stocks to own by November 1st.

Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) insider Stephen Brinkley sold 6,437 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the completion of the sale, the insider directly owned 57,012 shares in the company, valued at approximately $8,607,101.64. This represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ross Stores Stock Down 1.5%

Shares of ROST traded down $2.27 during mid-day trading on Friday, reaching $147.71. The company had a trading volume of 2,365,429 shares, compared to its average volume of 3,031,596. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The firm has a 50-day moving average price of $148.36 and a 200 day moving average price of $140.66. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.92 and a beta of 1.18.

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

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given 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%.

Institutional Trading of Ross Stores

Several institutional investors have recently added to or reduced their stakes in ROST. Vanguard Group Inc. lifted its stake in Ross Stores by 14.8% in the second quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer's stock worth $4,998,924,000 after purchasing an additional 5,060,954 shares during the last quarter. Norges Bank bought a new stake in Ross Stores in the second quarter worth about $521,159,000. Bank of America Corp DE raised its stake in shares of Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer's stock valued at $1,222,523,000 after acquiring an additional 1,657,008 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Ross Stores by 59.3% during the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock valued at $518,200,000 after acquiring an additional 1,509,815 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Ross Stores during the first quarter valued at approximately $122,043,000. Institutional investors own 86.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROST shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $160.00 price objective (up from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of Ross Stores in a report on Saturday, September 27th. Wells Fargo & Company increased their price target on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Robert W. Baird increased their price target on Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. increased their price target on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

Read Our Latest Stock Report on Ross Stores

About Ross Stores

(Get Free Report)

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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