Ross Stores Inc. (ROST) to Issue $0.14 Quarterly Dividend
Ross Stores Inc. (NASDAQ:ROST) declared a quarterly dividend on Wednesday, November 16th. Investors of record on Wednesday, December 7th will be given a dividend of 0.135 per share by the apparel retailer on Friday, December 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.85%.
Ross Stores (NASDAQ:ROST) opened at 63.86 on Thursday. Ross Stores has a 12-month low of $44.47 and a 12-month high of $66.28. The company has a 50 day moving average price of $63.41 and a 200-day moving average price of $59.84. The company has a market capitalization of $25.33 billion, a PE ratio of 24.31 and a beta of 0.94.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts anticipate that Ross Stores will post $2.75 EPS for the current year.
A number of research analysts have commented on ROST shares. Vetr lowered Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Monday, August 15th. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 price objective (up from $51.00) on shares of Ross Stores in a report on Friday, August 19th. Buckingham Research raised Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Bank of America Corp. set a $70.00 price objective on Ross Stores and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Hold” and an average target price of $65.25.
In other Ross Stores news, Director Gregory L. Quesnel sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total value of $1,030,240.00. Following the completion of the sale, the director now owns 19,370 shares of the company’s stock, valued at $1,247,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James S. Fassio sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total value of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ROST. Mackenzie Financial Corp boosted its stake in shares of Ross Stores by 0.5% in the second quarter. Mackenzie Financial Corp now owns 15,564 shares of the apparel retailer’s stock worth $882,000 after buying an additional 78 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of Ross Stores by 1.8% in the second quarter. Wetherby Asset Management Inc. now owns 7,661 shares of the apparel retailer’s stock valued at $435,000 after buying an additional 135 shares during the last quarter. Advantus Capital Management Inc boosted its position in shares of Ross Stores by 0.4% in the second quarter. Advantus Capital Management Inc now owns 39,666 shares of the apparel retailer’s stock valued at $2,249,000 after buying an additional 152 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Ross Stores by 0.3% in the second quarter. Van ECK Associates Corp now owns 77,549 shares of the apparel retailer’s stock valued at $4,396,000 after buying an additional 199 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Ross Stores by 6.6% in the second quarter. Bank of Nova Scotia now owns 8,082 shares of the apparel retailer’s stock valued at $458,000 after buying an additional 500 shares during the last quarter. 89.27% of the stock is owned by hedge funds and other institutional investors.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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