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.

Dividend History for Ross Stores (NASDAQ:ROST)

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