Short Interest in Ross Stores, Inc. (NASDAQ:ROST) Increases By 18.9%

by · The Cerbat Gem

Ross Stores, Inc. (NASDAQ:ROST – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 4,660,000 shares, a growth of 18.9% from the September 30th total of 3,920,000 shares. Based on an average daily volume of 2,140,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.4% of the shares of the stock are sold short.

Insider Transactions at Ross Stores

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently bought and sold shares of ROST. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ross Stores by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,269 shares of the apparel retailer’s stock valued at $8,992,000 after purchasing an additional 3,678 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Ross Stores by 13.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,825 shares of the apparel retailer’s stock valued at $2,029,000 after purchasing an additional 1,685 shares during the last quarter. Silverlake Wealth Management LLC acquired a new position in Ross Stores in the first quarter worth approximately $205,000. Azzad Asset Management Inc. ADV increased its holdings in shares of Ross Stores by 0.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 16,955 shares of the apparel retailer’s stock valued at $2,488,000 after buying an additional 122 shares in the last quarter. Finally, Monument Capital Management bought a new stake in shares of Ross Stores during the 1st quarter worth $267,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Up 0.3 %

Shares of NASDAQ ROST traded up $0.47 during trading on Wednesday, hitting $139.48. 1,451,244 shares of the company were exchanged, compared to its average volume of 2,227,126. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The company has a fifty day moving average price of $149.11 and a 200-day moving average price of $143.53. Ross Stores has a 12-month low of $114.06 and a 12-month high of $163.60. The firm has a market capitalization of $46.27 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.09.

Ross Stores (NASDAQ:ROST – Get Free Report) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Ross Stores will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s payout ratio is currently 23.71%.

Wall Street Analysts Forecast Growth

ROST has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America lifted their price target on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays increased their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group boosted their target price on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Loop Capital increased their price target on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Get Our Latest Stock Report on ROST

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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