Ross Stores, Inc. (ROST) to Issue Quarterly Dividend of $0.45 on March 31st

Ross Stores, Inc. (NASDAQ:ROST) declared a quarterly dividend on Tuesday, March 3rd. Stockholders of record on Friday, March 13th will be given a dividend of 0.445 per share by the apparel retailer on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, March 13th. This is a 9.9% increase from Ross Stores’s previous quarterly dividend of $0.41.

Ross Stores has increased its dividend payment by an average of 0.4%per year over the last three years and has raised its dividend every year for the last 6 years. Ross Stores has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ross Stores to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 26.6%.

Ross Stores Trading Down 0.2%

Shares of NASDAQ ROST opened at $212.50 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.58. The company has a market cap of $68.73 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.89 and a beta of 0.97. Ross Stores has a fifty-two week low of $122.36 and a fifty-two week high of $216.80. The business’s 50 day moving average price is $194.59 and its 200-day moving average price is $173.28.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.10. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter last year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, sell-side analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Institutional Investors Weigh In On Ross Stores

A number of large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in Ross Stores by 7,000.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Ross Stores in the 4th quarter valued at $26,000. American National Bank & Trust purchased a new stake in Ross Stores in the 3rd quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Ross Stores in the 4th quarter worth $31,000. Finally, City Holding Co. increased its stake in shares of Ross Stores by 1,080.0% in the 4th quarter. City Holding Co. now owns 177 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.