The company is now down since yesterday’s close of $54.34. Company chares are trading at $54.17 slightly below the 50 day moving average of $61.07 and a tad below the 200 day moving average of $64.95. The 50 day moving average was down $-6.87 and the 200 day average moved down $-10.75.
Traders are feeling more bearish on shares of the company as shown by the motion in short interest. The firm had a rise in short interest from May 31, 2017 to May 15, 2017 of 36.64%. Short shares grew from 7,756,192 to 10,598,357 over that timeframe. Days to cover decreased from 3.1 to 2.6 and the percentage of shorted shares is 0.03% as of May 15.
There has been some selling insider activity on Ross Stores, Inc. (NASDAQ:ROST) recently. Sharon D. Garrett, Director disclosed the sale of 16,130 shares of (ROST). The shares were purchased at an average price of $63.23. Garrett now owns $14,228,394 of the stock according to the SEC filing. President, Merchandising Brian R. Morrow sold 3,004 shares at an average price of $63.16 on Fri the 7th. Morrow now owns $7,687,330 of stock per an SEC filing yesterday.
Michael J. Bush, Director let go of $582,761 worth of shares at an average price of $66.51 on March 30th. That brings Bush’s holdings to $1,823,571 as recorded in a recent Form 4 SEC filing.
Ross Stores, Inc., launched on March 29, 1989, and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017. The Company offers in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The Company also operated 193 dd’s DISCOUNTS stores in 15 states as of January 28, 2017..
Here are a few additional firms who have increased or decreased their stake in (ROST). As of quarter end Clinton Group Inc had acquired a total of 80,388 shares growing its stake by 117.8%. The value of the investment in (ROST) increased from $4,476,000 to $9,789,000 a change of $5,313,000 quarter over quarter. Gateway Investment Advisers LLC cut its position by selling 511 shares a decrease of 0.8% as of 06/30/2017. Gateway Investment Advisers LLC now holds 60,582 shares valued at $3,497,000. The total value of its holdings decreased 13.1%.
Pennsylvania Trust Co downsized its stake by shedding 1,100 shares a decrease of 21.8% from 03/31/2017 to 06/30/2017. Pennsylvania Trust Co controls 3,950 shares with a value of $228,000. The value of the position overall is down by 31.5%. As of the end of the quarter Daiwa Sb Investments Ltd. had bought 3,110 shares growing its holdings by 31.2%. The value of the investment in ROST went from $657,000 to $755,000 a change of 14.9% since the last quarter.
Equity analyst Guggenheim Securities began coverage setting a rating of “Buy”. On August 22 Citigroup left the stock rating at “Buy” but raised the price target to $72.00 from $67.00.
August 19 investment analysts at UBS kept the company rating at “Neutral” and raised the price target from $57.00 to $67.00. On August 19 Deutsche Bank held the stock rating at “Buy” and raised the price expectation to $69.00 from $65.00.
On August 19 JP Morgan made no change to the stock rating of “Buy” but lowered the price expectation from $103.00 to $69.00. On August 19 Nomura maintained a company rating of “Buy” and moved down the price target from $80.00 to $69.00.
Additionally Ross Stores, Inc. announced a dividend for shareholders that was paid on Friday the 30th of June 2017. The dividend payment was $0.160 per share for the quarter or $0.64 annualized. This dividend amount represented a yeild of $1.14. The ex-dividend date was set for Friday the 2nd of June 2017.
Ross Stores, Inc. currently has a P/E ratio of 18.57 and market cap is 21.09B. As of the last earnings report the EPS was $2.92 and is expected to be $3.16 for the current year with 389,182,000 shares outstanding. Next quarter’s EPS is estimated at $0.67 with next year’s EPS anticipated to be $3.43.