Ross Stores (NASDAQ:ROST) Reaches New 1-Year Low – Time to Sell?

Ross Stores, Inc. (NASDAQ:ROST)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $122.36 and last traded at $123.41, with a volume of 567801 shares trading hands. The stock had previously closed at $124.60.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROST. Loop Capital lowered their price objective on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group decreased their price target on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 price target (down from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Wells Fargo & Company reissued a “negative” rating on shares of Ross Stores in a research note on Wednesday, March 5th. Finally, Guggenheim reissued a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Ross Stores Stock Down 0.1 %

The company’s 50 day moving average price is $140.53 and its two-hundred day moving average price is $145.86. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market cap of $41.07 billion, a P/E ratio of 19.58, a PEG ratio of 2.13 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Equities analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.30%. Ross Stores’s payout ratio is 25.63%.

Insider Activity at Ross Stores

In related news, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ross Stores

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after acquiring an additional 107 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores during the fourth quarter valued at about $31,000. ORG Partners LLC raised its holdings in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 191 shares during the period. Putney Financial Group LLC bought a new stake in Ross Stores during the fourth quarter valued at about $44,000. Finally, Cary Street Partners Financial LLC bought a new stake in Ross Stores during the fourth quarter valued at about $48,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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.