Ross Stores, Inc. to Issue Quarterly Dividend of $0.16 (ROST)
Ross Stores, Inc. (NASDAQ:ROST) declared a quarterly dividend on Wednesday, August 16th, RTT News reports. Investors of record on Thursday, September 7th will be paid a dividend of 0.16 per share by the apparel retailer on Friday, September 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%.
Ross Stores has increased its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 10 years. Ross Stores has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ross Stores to earn $3.46 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 18.5%.
Shares of Ross Stores (NASDAQ:ROST) traded up 2.53% on Wednesday, hitting $54.37. The company had a trading volume of 3,614,184 shares. The firm has a 50 day moving average of $55.32 and a 200-day moving average of $62.27. The firm has a market capitalization of $21.16 billion, a P/E ratio of 18.63 and a beta of 1.10. Ross Stores has a 12-month low of $52.86 and a 12-month high of $69.81. Ross Stores also was the target of unusually large options trading on Monday. Stock traders purchased 7,510 put options on the stock. This represents an increase of approximately 1,008% compared to the typical daily volume of 678 put options.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. Ross Stores’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Ross Stores will post $3.16 EPS for the current year.
Several research firms recently issued reports on ROST. BMO Capital Markets set a $65.00 target price on Ross Stores and gave the stock a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group reiterated a “neutral” rating and set a $64.00 target price (down previously from $70.00) on shares of Ross Stores in a report on Tuesday, August 8th. Finally, William Blair reiterated an “outperform” rating on shares of Ross Stores in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.41.
In related news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the sale, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.
About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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