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. Stockholders 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 increased its dividend every year for the last 10 years. Ross Stores has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Research 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 stock had a trading volume of 3,614,184 shares. The company has a market capitalization of $21.16 billion, a PE ratio of 18.63 and a beta of 1.10. The firm has a 50-day moving average of $55.32 and a 200 day moving average of $62.27. Ross Stores has a 1-year low of $52.86 and a 1-year high of $69.81. Ross Stores also saw unusually large options trading activity on Monday. Investors purchased 7,510 put options on the stock. This represents an increase of 1,008% compared to the average daily volume of 678 put options.
Ross Stores (NASDAQ:ROST) last announced 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 net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Ross Stores will post $3.16 earnings per share for the current fiscal year.
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In related news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the transaction, the director now directly owns 4,967 shares of the company’s stock, valued at $314,063.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the stock. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Ross Stores from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group reiterated a “neutral” rating and issued a $64.00 target price (down from $70.00) on shares of Ross Stores in a research report on Tuesday, August 8th. Finally, William Blair reiterated an “outperform” rating on shares of Ross Stores in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $69.41.
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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