On March 22, 2023, Loop Capital upgraded their outlook for Ross Stores (NASDAQ:ROST) from Hold to Buy.
Analyst Price Forecast Suggests 22.98% Upside
As of March 22, 2023, the average one-year price target for Ross Stores is $126.19. The forecasts range from a low of $105.04 to a high of $145.95. The average price target represents an increase of 22.98% from its latest reported closing price of $102.61.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ross Stores is $18,995MM, an increase of 1.60%. The projected annual non-GAAP EPS is $4.39.
Ross Stores Declares $0.34 Dividend
On February 28, 2023 the company declared a regular quarterly dividend of $0.34 per share ($1.34 annualized). Shareholders of record as of March 14, 2023 will receive the payment on March 31, 2023. Previously, the company paid $0.31 per share.
At the current share price of $102.61 / share, the stock's dividend yield is 1.31%. Looking back five years and taking a sample every week, the average dividend yield has been 1.09%, the lowest has been 0.84%, and the highest has been 1.81%. The standard deviation of yields is 0.19 (n=200).
The current dividend yield is 1.10 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Price T Rowe Associates holds 46,858K shares representing 13.61% ownership of the company. In it's prior filing, the firm reported owning 46,810K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in ROST by 35.16% over the last quarter.
Primecap Management holds 11,180K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 11,302K shares, representing a decrease of 1.09%. The firm increased its portfolio allocation in ROST by 28.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,552K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 10,426K shares, representing an increase of 1.19%. The firm increased its portfolio allocation in ROST by 28.73% over the last quarter.
PRGFX - T. Rowe Price Growth Stock Fund holds 8,339K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 9,053K shares, representing a decrease of 8.57%. The firm increased its portfolio allocation in ROST by 33.66% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,023K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 7,933K shares, representing an increase of 1.13%. The firm increased its portfolio allocation in ROST by 28.34% over the last quarter.
What is the Fund Sentiment?
There are 1780 funds or institutions reporting positions in Ross Stores. This is an increase of 105 owner(s) or 6.27% in the last quarter. Average portfolio weight of all funds dedicated to ROST is 0.47%, an increase of 23.50%. Total shares owned by institutions decreased in the last three months by 0.48% to 360,064K shares. The put/call ratio of ROST is 1.43, indicating a bearish outlook.
Ross Stores Background Information
(This description is provided by the company.)
Ross Stores, Inc. is an S&P 500, Fortune 500, and NASDAQ 100 (ROST) company headquartered in Dublin, California, with fiscal 2019 revenues of $16.0 billion. As of August 1, 2020, the Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,566 locations in 39 states, the District of Columbia, and Guam. Ross offers first-quality,in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
