Ross Stores’ group president sells $2.28 million in shares

Michael J. Hartshorn, Group President and COO of Ross Stores, Inc. (NASDAQ:ROST), recently sold shares worth approximately $2.28 million, according to SEC filings. The transactions occurred over two days, March 24 and March 25, with shares sold at prices ranging from $127.691 to $129.0953. The sales come as Ross Stores, with a market capitalization of $42.17 billion and a P/E ratio of 20.03, maintains a GOOD financial health score according to InvestingPro analysis.

On March 24, Hartshorn sold 7,492 shares at a price of $127.691 each, as part of a pre-established 10b5-1 plan. The following day, he sold an additional 10,258 shares at a weighted average price of $129.0953, with individual transaction prices ranging from $128.585 to $129.67. After these transactions, Hartshorn retains ownership of 128,833 shares of Ross Stores. The stock currently trades near its 52-week low, with analysts setting price targets ranging from $127 to $188.

The sales were conducted under a 10b5-1 trading plan, providing pre-determined trading instructions to avoid potential conflicts of interest. For deeper insights into Ross Stores’ valuation and comprehensive analysis, including 12 additional ProTips and extensive financial metrics, visit InvestingPro.

In other recent news, Ross Stores, Inc. has reported significant developments that are capturing the attention of investors. The company announced an ambitious expansion plan for fiscal 2025, aiming to open approximately 90 new stores, with 19 new locations already inaugurated across 14 states. This expansion reflects Ross Stores’ strategy to strengthen its presence in both new and existing markets, with a long-term vision of increasing its store count significantly. Additionally, Ross Stores reported revenues of $21.1 billion for fiscal 2024, underscoring its position in the off-price retail sector.

Meanwhile, analyst firms have adjusted their price targets for Ross Stores, indicating varied perspectives on the company’s growth prospects. Bernstein reduced its price target from $163 to $147, maintaining a Market Perform rating, citing challenges in the retail environment and the need for strategic growth under new CEO Jim Conroy. UBS also lowered its target to $163, with a Neutral rating, reflecting cautiousness amidst economic pressures on Ross Stores’ core customer base. TD Cowen adjusted its price target to $169 from $175 but retained a Buy rating, highlighting the company’s consistent performance outside of COVID-affected years.

These adjustments reflect a broader market sentiment that is cautious yet optimistic about Ross Stores’ ability to navigate current challenges. Analysts have noted the potential for Ross Stores to outperform competitors, with UBS projecting an earnings per share compound annual growth rate of approximately 7% over five years. The company’s strategic initiatives, including new marketing and store efforts, are being closely watched as investors await further details on their impact on financial performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.