Ross Stores (ROST) Announces Earnings Results
Ross Stores (NASDAQ:ROST) posted its earnings results on Thursday. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.01, Briefing.com reports. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year.
NASDAQ ROST opened at $94.51 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 1.69. Ross Stores has a twelve month low of $75.91 and a twelve month high of $104.35. The company has a market cap of $34.73 billion, a P/E ratio of 22.19, a PEG ratio of 2.08 and a beta of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.02 annualized dividend and a dividend yield of 1.08%. Ross Stores’s dividend payout ratio is presently 23.94%.
In other Ross Stores news, insider Bernard G. Brautigan sold 19,384 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total value of $1,813,567.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 20,057 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.82, for a total value of $1,781,462.74. Following the completion of the sale, the chairman now directly owns 134,567 shares in the company, valued at $11,952,240.94. The disclosure for this sale can be found here. Insiders sold 137,054 shares of company stock worth $12,504,328 over the last three months. Corporate insiders own 2.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Bollard Group LLC purchased a new position in shares of Ross Stores in the fourth quarter worth $25,000. CI Investments Inc. purchased a new position in shares of Ross Stores in the fourth quarter worth $26,000. First Manhattan Co. purchased a new position in shares of Ross Stores in the first quarter worth $27,000. Athena Capital Advisors LLC purchased a new position in shares of Ross Stores in the fourth quarter worth $29,000. Finally, Berman Capital Advisors LLC purchased a new position in shares of Ross Stores in the fourth quarter worth $32,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores announced that its board has authorized a stock buyback plan on Tuesday, March 5th that permits the company to buyback $2.55 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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About Ross Stores
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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