S& P 500 hits all time highs U.S.-Japan trade deal optimism
Karen Fleming, the President and Chief Merchandising Officer of Ross Dress for Less, a division of Ross Stores, Inc. (NASDAQ:ROST), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Fleming offloaded 5,339 shares of Ross Stores’ common stock on March 17. The shares were sold at an average price of $125.73 each, amounting to a total transaction value of $671,272. The sale comes as the stock trades near its 52-week low of $122.77, with InvestingPro analysis indicating the stock is currently fairly valued.
Following this transaction, Fleming retains ownership of 94,062.505 shares of Ross Stores’ stock. The sale was executed directly, as indicated in the filing. Ross Stores, headquartered in Dublin, California, is a major player in the retail industry, specializing in family clothing stores. With a market capitalization of $41.6 billion and a 32-year track record of consistent dividend payments, the company maintains a "GOOD" financial health rating according to InvestingPro’s comprehensive analysis, which offers detailed insights through its Pro Research Report.
In other recent news, Ross Stores, Inc. reported revenues of $21.1 billion for fiscal 2024, reflecting the company’s ongoing expansion efforts. The retailer opened 19 new stores across 14 states, as part of its plan to add approximately 90 new locations this year. UBS analyst Jay Sole recently lowered the price target for Ross Stores to $163, citing economic pressures on its core customer base, while maintaining a Neutral rating. Similarly, Bernstein adjusted its price target to $163, maintaining a Market Perform rating due to concerns over customer traffic impacting earnings growth. TD Cowen also revised its price target from $175 to $169 but reiterated a Buy rating, pointing to Ross Stores’ consistent performance and potential for future growth. Telsey Advisory Group reduced its price target to $150, maintaining a Market Perform rating, noting sales concerns and macroeconomic challenges. Despite these adjustments, analysts continue to recognize Ross Stores’ ability to appeal to value-seeking consumers amidst economic uncertainties. The company’s new CEO has announced plans for fresh marketing and store initiatives to drive growth, though details remain forthcoming.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.