Ross Stores Group chairman sells more than $1.3 million in company stock via Investing.com

Michael J. Hartshorn, Group President and Chief Operating Officer of Ross Stores, Inc. (NASDAQ: ), sold a significant number of the company’s shares, according to a recent filing with the SEC. The transaction, which occurred on September 16, 2024, involved the sale of 8,366 shares of common stock at a weighted average price of $155.6422, resulting in a total sale value of approximately $1.3 million.

The sale was executed under a predetermined trading plan known as the 10b5-1 Plan, which was established on October 6, 2023. This plan allows company insiders to sell shares at predetermined times to avoid allegations of insider trading. privileged information. Shares were sold in multiple transactions at prices ranging from $154.999 to $156.14.

Following the sale, Hartshorn still holds a substantial stake in Ross Stores, with 103,049 shares remaining in his possession. The trades are detailed in a Form 4 filed with the Securities and Exchange Commission, which provides information about the trading activities of company insiders.

Headquartered in Dublin, California, Ross Stores operates as an apparel and home fashion retailer through the Ross Dress for Less and dd’s DISCOUNTS brands. The company has been a mainstay in the retail industry, known for its no-price model that appeals to bargain-conscious consumers.

Investors and market watchers closely monitor insider sales because they can provide signals about an executive’s confidence in the company’s future performance. However, it is not uncommon for executives to sell shares for personal financial planning or diversification reasons.

The SEC filing indicates that the sale was conducted in a manner consistent with regulatory guidelines and corporate governance standards. Interested parties may request additional details of the specific prices at which shares were sold during the reporting period from Ross Stores or the SEC.

Ross Stores shareholders can continue to watch insider trading as it provides one of many data points to consider when evaluating their investment in the company.

In other recent news, Ross Stores reported a strong second quarter with a 7% increase in total sales to $5.3 billion and a 4% increase in comparable store sales. Earnings per share (EPS) for the quarter was $1.59, up from $1.32 in the same quarter last year. Loop Capital responded to these developments by raising its price target for Ross Stores from $170 to $190, while maintaining a Buy rating. That adjustment came after Ross Stores beat company projections and reported a 4 percent increase in comparable store sales.

In addition, Ross Stores announced key leadership changes, promoting Karen Fleming to president and head of merchandising at Ross Dress for Less and Karen Sykes to president and head of merchandising of dd’s DISCOUNTS. These promotions are part of Ross Stores’ efforts to increase its operational efficiency and remain competitive in the off-price retail segment.

Finally, Ross Stores revised its full-year earnings per share (EPS) forecast up by about 19 cents, in line with both Loop Capital’s estimates and the consensus. The company’s third-quarter outlook is set to meet consensus estimates, with projections for comparable store sales growth of 2-3% for the third and fourth quarters. These are the recent developments for Ross Stores.

InvestingPro Insights

As investors digest news of Michael J. Hartshorn’s recent stock sale, it’s important to consider the broader financial health and market position of Ross Stores, Inc. (NASDAQ:ROST). According to InvestingPro data, Ross Stores currently has a market capitalization of approximately $49.96 billion, reflecting its substantial presence in the retail industry. The company’s P/E ratio is 24.32, which is in line with its trailing twelve-month adjusted P/E ratio going back to Q2 2025, indicating a consistent valuation relative to its earnings.

One of InvestingPro’s tips points out that Ross Stores has been able to increase its dividend for 3 consecutive years, demonstrating its commitment to returning value to shareholders. This is also underlined by the company’s track record of maintaining dividend payments for 31 consecutive years, which speaks to its financial stability and prudent capital management strategies.

Additionally, Ross Stores is noted for trading at a low P/E ratio relative to near-term earnings growth, suggesting that the stock may be undervalued when considering its earnings potential. This could be particularly relevant to investors looking for growth opportunities within the Specialty Retail industry.

For those who want a more in-depth analysis, InvestingPro offers additional information and values ​​about Ross Stores. There are currently 12 more InvestingPro tips available that can provide investors with a more comprehensive understanding of a company’s financial performance and market position. These tips are accessible at: https://www.investing.com/pro/ROST.

As investors consider the implications of insider trading, these InvestingPro Insights can serve as a valuable resource for making informed decisions about their investments in Ross stores.

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