In a recent transaction, Michael J. Hartshorn, Group President and Chief Operating Officer of Ross Stores, Inc. (NASDAQ:ROST), sold 21,056 shares of the company's common stock. The transaction was executed on March 18, 2024, and the total value of the shares sold amounts to approximately $3,056,067.
The shares were sold at a weighted average price of $145.14, with individual sales prices ranging from $144.415 to $145.53. This information comes from a footnote in the SEC filing, which also notes that the sales were conducted under a pre-established 10b5-1 trading plan that Hartshorn had entered into on October 6, 2023.
Following the sale, Hartshorn still owns 114,488 shares of Ross Stores, indicating a continued stake in the company's future. The sale was reported in compliance with SEC regulations, and the detailed pricing information is available upon request, indicating transparency in the transaction.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's view of the company's future prospects. In the case of Ross Stores, this significant sale by a high-ranking insider might be of interest to current and potential shareholders.
Ross Stores, Inc. is known for its off-price retail offerings, operating under the Ross Dress for Less and dd's DISCOUNTS brands across the United States. As with any insider transaction, investors may consider a variety of factors, including the company's performance, market conditions, and individual circumstances of the executive, when interpreting the potential implications of this sale.
InvestingPro Insights
Ross Stores, Inc. (NASDAQ:ROST) has recently seen notable insider activity, which may draw the attention of investors. To provide further context to this insider transaction, we can look at some key data points and analysis provided by InvestingPro. With a market capitalization of $49.35 billion and a P/E ratio standing at 26.2, Ross Stores is trading at a valuation that reflects its current earnings. Interestingly, the company's P/E ratio is relatively aligned with its near-term earnings growth, as indicated by the PEG ratio of 0.98 for the last twelve months as of Q4 2024.
Investors evaluating the insider sale may also consider the company's performance metrics. Ross Stores has experienced revenue growth of 8.99% over the last twelve months as of Q4 2024, with a quarterly jump of 15.5% in the same period. This suggests a robust upward trajectory in sales. Moreover, the company's gross profit margin stands at 27.36%, showcasing its ability to maintain profitability.
Two InvestingPro Tips that may be particularly relevant in light of the insider sale are: Ross Stores has raised its dividend for three consecutive years and has maintained dividend payments for 31 consecutive years. These tips highlight the company's commitment to shareholder returns and could be seen as a sign of financial stability and confidence in the future. For investors seeking more comprehensive analysis, there are 13 additional InvestingPro Tips available for Ross Stores, including insights into the company's debt levels, trading patterns, and profitability forecasts. Access these tips by visiting: https://www.investing.com/pro/ROST.
For those considering an investment in Ross Stores or looking to understand the implications of insider transactions, taking advantage of InvestingPro's insights could be valuable. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of data and expert analysis to inform your investment decisions.
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