Stock Traders Purchase Large Volume of Call Options on Ross Stores (ROST)

Ross Stores (NASDAQ:ROST) was the recipient of unusually large options trading activity on Wednesday. Traders bought 20,081 call options on the stock. This is an increase of 5,129% compared to the typical volume of 384 call options.

Shares of ROST stock opened at $78.89 on Thursday. Ross Stores has a 52 week low of $52.85 and a 52 week high of $85.66. The company has a market capitalization of $29,824.89, a PE ratio of 23.62, a P/E/G ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78.

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Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.95 billion. equities research analysts anticipate that Ross Stores will post 4.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a $0.225 dividend. The ex-dividend date was Friday, March 16th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.14%. Ross Stores’s payout ratio is currently 26.95%.

Ross Stores announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

In other news, CEO Barbara Rentler sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $78.25, for a total value of $1,173,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael Balmuth sold 59,777 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $76.53, for a total transaction of $4,574,733.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,652 shares of company stock valued at $19,829,016. Corporate insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ROST. Cerebellum GP LLC bought a new stake in Ross Stores during the fourth quarter valued at approximately $132,000. Sit Investment Associates Inc. grew its position in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after buying an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Ross Stores during the fourth quarter valued at approximately $159,000. Financial Gravity Companies Inc. bought a new stake in Ross Stores during the fourth quarter valued at approximately $164,000. Finally, Certified Advisory Corp bought a new stake in Ross Stores during the fourth quarter valued at approximately $185,000. Institutional investors own 90.41% of the company’s stock.

ROST has been the subject of several research analyst reports. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Wells Fargo reissued a “buy” rating and set a $86.00 price target (down from $91.00) on shares of Ross Stores in a research report on Wednesday, March 7th. Cowen set a $85.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $81.86.

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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. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.

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