TJX Companies (NYSE:TJX) Reaches New 1-Year High Following Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX)’s stock price hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $130.00 to $132.00. TD Cowen currently has a buy rating on the stock. TJX Companies traded as high as $122.83 and last traded at $122.83, with a volume of 44029 shares. The stock had previously closed at $121.47.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group lifted their price target on shares of TJX Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of TJX Companies from a “hold” rating to a “buy” rating in a report on Sunday, September 15th. UBS Group boosted their target price on shares of TJX Companies from $134.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Loop Capital boosted their target price on shares of TJX Companies from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley boosted their target price on shares of TJX Companies from $122.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.47.

Insider Activity at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total value of $1,763,100.00. Following the completion of the transaction, the chief executive officer now owns 536,148 shares of the company’s stock, valued at $63,018,835.92. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TJX Companies

A number of large investors have recently added to or reduced their stakes in the company. Richard W. Paul & Associates LLC purchased a new stake in TJX Companies during the second quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in TJX Companies during the 3rd quarter worth approximately $29,000. Truvestments Capital LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $29,000. Copeland Capital Management LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Trading Up 1.1 %

The firm has a 50-day moving average of $116.52 and a 200-day moving average of $112.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19. The firm has a market capitalization of $138.54 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.95 billion. During the same period last year, the company earned $1.03 EPS. TJX Companies’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.375 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.22%. TJX Companies’s dividend payout ratio is currently 35.29%.

About TJX Companies

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, and gourmet food departments; jewelry and accessories; and other merchandise.