Ross Stores Inc. (ROST) to Issue Quarterly Dividend of $0.14 on December 30th
Ross Stores Inc. (NASDAQ:ROST) announced a quarterly dividend on Wednesday, November 16th. Shareholders of record on Wednesday, December 7th will be paid 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 0.79%. The ex-dividend date of this dividend is Monday, December 5th.
Shares of Ross Stores (NASDAQ:ROST) opened at 68.57 on Wednesday. Ross Stores has a 12 month low of $50.42 and a 12 month high of $69.81. The firm has a market capitalization of $26.80 billion, a PE ratio of 25.21 and a beta of 0.94. The firm’s 50 day moving average is $64.21 and its 200-day moving average is $60.46.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. The business had revenue of $3.10 billion for the quarter. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Ross Stores’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts expect that Ross Stores will post $2.81 EPS for the current fiscal year.
Several research firms recently commented on ROST. BMO Capital Markets reiterated a “hold” rating on shares of Ross Stores in a research report on Saturday, November 19th. Royal Bank Of Canada boosted their price objective on shares of Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Friday, August 19th. Cowen and Company set a $74.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a research report on Saturday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Ross Stores from $51.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 19th. Finally, Wedbush boosted their price objective on shares of Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Ross Stores has an average rating of “Hold” and an average price target of $67.39.
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In related news, Director Gregory L. Quesnel sold 16,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total transaction of $1,030,240.00. Following the transaction, the director now directly owns 19,370 shares in the company, valued at $1,247,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $62.54, for a total value of $1,250,800.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ROST. FMR LLC boosted its position in shares of Ross Stores by 5.4% in the second quarter. FMR LLC now owns 36,204,880 shares of the apparel retailer’s stock valued at $2,052,454,000 after buying an additional 1,852,111 shares during the period. American Century Companies Inc. boosted its position in shares of Ross Stores by 62.4% in the second quarter. American Century Companies Inc. now owns 3,108,460 shares of the apparel retailer’s stock valued at $176,219,000 after buying an additional 1,193,928 shares during the period. Marshall Wace LLP boosted its position in shares of Ross Stores by 67.5% in the second quarter. Marshall Wace LLP now owns 1,648,815 shares of the apparel retailer’s stock valued at $93,471,000 after buying an additional 664,166 shares during the period. Capital International Investors boosted its position in shares of Ross Stores by 128.0% in the second quarter. Capital International Investors now owns 757,000 shares of the apparel retailer’s stock valued at $42,914,000 after buying an additional 425,000 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ross Stores during the second quarter valued at about $12,755,000. Hedge funds and other institutional investors own 87.68% of the company’s stock.
About Ross Stores
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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