Ross Stores, Inc. (NASDAQ:ROST) Sees Significant Decrease in Short Interest

Ross Stores, Inc. (NASDAQ:ROST) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 3,800,000 shares, a decline of 16.5% from the June 30th total of 4,550,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.2% of the shares of the company are short sold.

Ross Stores Trading Down 0.1 %

Shares of ROST stock opened at $140.91 on Monday. The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.47 and a beta of 1.08. Ross Stores has a twelve month low of $108.35 and a twelve month high of $153.06. The company’s 50-day moving average price is $144.06 and its 200-day moving average price is $141.78. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. Ross Stores’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities analysts predict that Ross Stores will post 5.97 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.04%. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Insider Activity

In related news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the sale, the director now owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Ross Stores

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Ross Stores during the fourth quarter worth about $523,185,000. First Trust Advisors LP increased its stake in Ross Stores by 515.8% during the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock worth $243,135,000 after purchasing an additional 1,471,585 shares during the period. Los Angeles Capital Management LLC increased its stake in Ross Stores by 1,437.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock worth $142,039,000 after purchasing an additional 959,594 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Ross Stores during the fourth quarter worth about $102,083,000. Finally, Wellington Management Group LLP increased its stake in Ross Stores by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after purchasing an additional 601,031 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROST has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 target price on shares of Ross Stores in a research note on Friday, June 14th. TD Cowen lifted their target price on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Morgan Stanley lifted their target price on shares of Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, UBS Group lifted their target price on shares of Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $159.06.

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.