Ross Stores, Inc. (ROST) to Issue Quarterly Dividend of $0.37 on June 28th

Ross Stores, Inc. (NASDAQ:ROST) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Tuesday, June 11th will be given a dividend of 0.3675 per share by the apparel retailer on Friday, June 28th. This represents a $1.47 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, June 11th.

Ross Stores has raised its dividend by an average of 67.5% annually over the last three years and has raised its dividend every year for the last 5 years. Ross Stores has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ross Stores to earn $6.46 per share next year, which means the company should continue to be able to cover its $1.47 annual dividend with an expected future payout ratio of 22.8%.

Ross Stores Trading Up 0.3 %

ROST opened at $131.86 on Friday. Ross Stores has a one year low of $100.66 and a one year high of $151.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The business has a 50 day simple moving average of $136.91 and a two-hundred day simple moving average of $137.42. The firm has a market capitalization of $44.40 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.98 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Analysts predict that Ross Stores will post 5.89 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on ROST shares. Jefferies Financial Group raised their price objective on shares of Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Robert W. Baird upped their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Telsey Advisory Group restated a “market perform” rating and set a $160.00 price objective on shares of Ross Stores in a research note on Friday, May 17th. Barclays lifted their target price on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets increased their price target on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.11.

Insider Activity at Ross Stores

In other news, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the transaction, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Patricia H. Mueller sold 2,265 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.10% of the stock is owned by company insiders.

Ross Stores declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.