Ross Stores CMO Karen Fleming sells $672,979 in stock

Published 02/04/2025, 23:42
Ross Stores CMO Karen Fleming sells $672,979 in stock

Karen Fleming, President and Chief Merchandising Officer of Ross Dress for Less, a division of Ross Stores, Inc. (NASDAQ:ROST), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Fleming disposed of 5,270 shares of common stock on March 31, 2025, at a price of $127.70 per share. This transaction totaled approximately $672,979. The sale comes as Ross Stores, currently valued at $43.57 billion, trades near $132 per share. According to InvestingPro analysis, the stock is currently trading close to its Fair Value, with a GOOD overall financial health score.

Following the sale, Fleming retains ownership of 93,125.505 shares, which includes 41 shares acquired through the company’s employee stock purchase plan. The transaction reflects her ongoing management of personal investments while maintaining a substantial stake in Ross Stores. For investors seeking deeper insights, InvestingPro offers exclusive access to 10 additional ProTips and comprehensive analysis of ROST’s financial metrics, including its 32-year track record of consistent dividend payments and recent 20.9% dividend growth.

In other recent news, Ross Stores, Inc. reported revenues of $21.1 billion for fiscal 2024, as the company continues its expansion with plans to open approximately 90 new stores in fiscal 2025. This expansion includes 19 newly inaugurated stores across 14 states, signaling a strategic push to strengthen its presence in both existing and newer markets. Meanwhile, UBS analyst Jay Sole adjusted the price target for Ross Stores to $163, down from $168, maintaining a Neutral rating, citing stable fundamentals despite macroeconomic challenges. Similarly, Bernstein analysts reduced their price target from $163 to $147, maintaining a Market Perform rating, reflecting cautious growth prospects in a challenging retail environment.

TD Cowen also revised its price target for Ross Stores, lowering it to $169 from $175, but maintained a Buy rating, noting the company’s consistent performance and market share gains. The firm highlighted Ross Stores’ fiscal year same-store sales growth of at least +3% since 2008, excluding the COVID-affected years, as a testament to its strong market position. UBS’s Quant Team identified Ross Stores as a "crowded long," indicating high investor interest, though no substantial increase in this popularity is expected. The company’s new CEO, Jim Conroy, is noted for his strategic approach to growth, focusing on enhancing customer acquisition and average basket size. These developments reflect Ross Stores’ ongoing efforts to navigate economic pressures while pursuing strategic growth initiatives.

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