Ross Stores, Inc. (NASDAQ:ROST) Plans Quarterly Dividend of $0.41

Ross Stores, Inc. (NASDAQ:ROST) declared a quarterly dividend on Wednesday, November 19th. Shareholders of record on Tuesday, December 9th will be paid a dividend of 0.405 per share by the apparel retailer on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, December 9th.

Ross Stores has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Ross Stores has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Ross Stores to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 24.3%.

Ross Stores Stock Up 0.3%

Shares of NASDAQ:ROST opened at $160.45 on Thursday. The company has a market cap of $52.18 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 3.04 and a beta of 1.16. The firm’s 50-day simple moving average is $154.92 and its 200-day simple moving average is $145.51. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Ross Stores has a fifty-two week low of $122.36 and a fifty-two week high of $165.07.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Ross Stores will post 6.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Grant Conroy sold 39,351 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total value of $5,745,246.00. Following the sale, the chief executive officer directly owned 157,153 shares in the company, valued at $22,944,338. This represents a 20.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the sale, the insider owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. This represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 52,720 shares of company stock valued at $7,761,212. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Ross Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. American National Bank & Trust purchased a new stake in shares of Ross Stores during the 3rd quarter valued at $26,000. Grey Fox Wealth Advisors LLC purchased a new stake in Ross Stores during the third quarter valued at about $29,000. Aspect Partners LLC increased its stake in Ross Stores by 251.7% during the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after acquiring an additional 146 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Ross Stores by 162.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 148 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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.