Ross Stores, Inc. (NASDAQ:ROST) announced a quarterly dividend on Monday, November 19th, RTT News reports. Investors of record on Friday, December 7th will be given a dividend of 0.225 per share by the apparel retailer on Friday, December 28th. This represents a $0.90 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, December 6th.
Ross Stores has raised its dividend payment by an average of 17.0% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Ross Stores has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ross Stores to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 20.1%.
ROST stock opened at $81.76 on Wednesday. Ross Stores has a fifty-two week low of $73.76 and a fifty-two week high of $104.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.73 and a current ratio of 1.61. The stock has a market capitalization of $32.71 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.02 and a beta of 0.97.
In other news, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction on Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.
Several research firms have weighed in on ROST. Bank of America raised their price target on Ross Stores from $105.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, November 14th. BidaskClub cut Ross Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, November 2nd. Barclays started coverage on Ross Stores in a report on Tuesday, September 11th. They set an “equal weight” rating and a $106.00 price objective for the company. Zacks Investment Research reaffirmed a “buy” rating and set a $113.00 target price on shares of Ross Stores in a research report on Thursday, November 15th. Finally, DA Davidson began coverage on Ross Stores in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $96.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have assigned a buy rating to the company. Ross Stores currently has a consensus rating of “Buy” and an average target price of $96.12.
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.
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