Ross Stores (NASDAQ:ROST) declared a quarterly dividend on Wednesday, May 23rd, RTT News reports. Stockholders of record on Tuesday, June 12th will be given a dividend of 0.225 per share by the apparel retailer on Friday, June 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.09%.
Ross Stores has increased its dividend payment by an average of 17.0% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Ross Stores has a payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ross Stores to earn $4.45 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 14.4%.
Shares of Ross Stores stock traded up $0.27 on Wednesday, hitting $82.61. The company had a trading volume of 2,487,300 shares, compared to its average volume of 2,616,181. The stock has a market capitalization of $31.02 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. Ross Stores has a twelve month low of $52.85 and a twelve month high of $85.66. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. equities analysts anticipate that Ross Stores will post 4.03 EPS for the current fiscal year.
In other Ross Stores news, Director Sharon D. Garrett sold 26,000 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total transaction of $2,003,820.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 59,777 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $76.53, for a total transaction of $4,574,733.81. The disclosure for this sale can be found here. Insiders have sold 256,652 shares of company stock worth $19,829,016 over the last ninety days. Insiders own 2.40% of the company’s stock.
ROST has been the subject of several research analyst reports. Susquehanna Bancshares set a $95.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Wednesday, March 7th. Loop Capital initiated coverage on shares of Ross Stores in a report on Thursday, March 8th. They issued a “buy” rating and a $85.00 price target for the company. Cowen set a $85.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Tuesday, March 6th. Credit Suisse Group initiated coverage on shares of Ross Stores in a report on Monday, March 12th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $81.95.
Ross Stores declared that its board has authorized a stock buyback plan on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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 in the United States. It 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.
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.