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.

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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.

Dividend History for Ross Stores (NASDAQ:ROST)

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