Investors Purchase Large Volume of Ross Stores Call Options (ROST)

Ross Stores, Inc. (NASDAQ:ROST) saw unusually large options trading activity on Wednesday. Traders bought 8,084 call options on the stock. This is an increase of 1,116% compared to the average daily volume of 665 call options.

Several research analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Ross Stores from $65.00 to $71.00 and gave the stock a “market perform” rating in a research note on Friday, November 17th. JPMorgan Chase & Co. raised shares of Ross Stores from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $74.00 in a research note on Monday, September 25th. Morgan Stanley lifted their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Nomura reaffirmed a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of Ross Stores in a research note on Wednesday. Finally, Jefferies Group set a $66.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research note on Saturday, November 18th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $74.19.

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after acquiring an additional 1,888,715 shares during the period. Nordea Investment Management AB lifted its stake in Ross Stores by 8,982.4% in the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after acquiring an additional 1,600,027 shares during the period. Renaissance Technologies LLC lifted its stake in Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after acquiring an additional 1,254,028 shares during the period. Wells Fargo & Company MN lifted its stake in Ross Stores by 39.2% in the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after acquiring an additional 1,029,990 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Ross Stores by 13.1% in the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after acquiring an additional 849,789 shares during the period. 91.44% of the stock is owned by hedge funds and other institutional investors.

Shares of Ross Stores (NASDAQ:ROST) opened at $83.76 on Friday. The stock has a market cap of $32,010.00, a price-to-earnings ratio of 26.76, a PEG ratio of 2.47 and a beta of 1.14. Ross Stores has a one year low of $52.85 and a one year high of $84.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. sell-side analysts predict that Ross Stores will post 3.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, November 30th. Ross Stores’s dividend payout ratio is currently 20.45%.

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Ross Stores Company Profile

Ross Stores, Inc 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.

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