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 mid-day 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 trading hands. The stock had previously closed at $121.47.

Several other brokerages have also commented on TJX. Loop Capital lifted their price objective on TJX Companies from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their target price on TJX Companies from $122.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. UBS Group boosted their target price on TJX Companies from $134.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company upped their price objective on TJX Companies from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Finally, BMO Capital Markets upped their price objective on TJX Companies from $116.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.47.

Insider Activity at TJX Companies

In other news, CEO Ernie Herrman sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 536,148 shares of the company’s stock, valued at approximately $63,018,835.92. This represents a 2.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TJX. Hartford Funds Management Co LLC grew its position in TJX Companies by 0.5% during the third quarter. Hartford Funds Management Co LLC now owns 17,926 shares of the apparel and home fashions retailer’s stock worth $2,107,000 after buying an additional 86 shares during the period. Stablepoint Partners LLC grew its position in shares of TJX Companies by 0.3% in the third quarter. Stablepoint Partners LLC now owns 26,922 shares of the apparel and home fashions retailer’s stock valued at $3,164,000 after purchasing an additional 89 shares during the last quarter. Dearborn Partners LLC grew its position in shares of TJX Companies by 4.0% in the second quarter. Dearborn Partners LLC now owns 2,359 shares of the apparel and home fashions retailer’s stock valued at $260,000 after purchasing an additional 90 shares during the last quarter. Concorde Asset Management LLC grew its position in shares of TJX Companies by 2.8% in the second quarter. Concorde Asset Management LLC now owns 3,330 shares of the apparel and home fashions retailer’s stock valued at $367,000 after purchasing an additional 90 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its position in shares of TJX Companies by 3.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 2,706 shares of the apparel and home fashions retailer’s stock valued at $318,000 after purchasing an additional 90 shares during the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

TJX Companies Stock Up 1.1 %

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

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 for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.95 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. TJX Companies’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts expect that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.375 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.50 dividend on an annualized basis and a 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.