Ross Stores (NASDAQ:ROST) Sets New 52-Week High After Dividend Announcement

Ross Stores, Inc. (NASDAQ:ROST)’s share price reached a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $157.50 and last traded at $153.28, with a volume of 253449 shares. The stock had previously closed at $147.70.

The newly announced dividend which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a $0.3675 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.96%. Ross Stores’s dividend payout ratio is 24.79%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ROST shares. UBS Group upped their target price on shares of Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 price objective on shares of Ross Stores in a research report on Friday, August 16th. Wells Fargo & Company lifted their target price on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. TD Cowen lowered their price target on Ross Stores from $176.00 to $173.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Barclays raised their price objective on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.13.

Ross Stores Trading Down 0.9 %

The company’s 50-day moving average is $145.21 and its 200-day moving average is $142.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The firm has a market cap of $50.88 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.17 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the company posted $1.09 EPS. Ross Stores’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts predict that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Insider Transactions at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the sale, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ross Stores

Several institutional investors have recently bought and sold shares of ROST. Cetera Investment Advisers boosted its holdings in shares of Ross Stores by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 42,306 shares of the apparel retailer’s stock valued at $6,148,000 after buying an additional 112 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in Ross Stores in the second quarter valued at approximately $321,000. Creative Planning lifted its position in shares of Ross Stores by 7.9% in the second quarter. Creative Planning now owns 58,471 shares of the apparel retailer’s stock valued at $8,497,000 after buying an additional 4,286 shares during the last quarter. Algert Global LLC bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $421,000. Finally, SkyView Investment Advisors LLC boosted its stake in shares of Ross Stores by 17.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 17,123 shares of the apparel retailer’s stock worth $2,488,000 after acquiring an additional 2,558 shares during the period. 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.