TJX Companies (NYSE:TJX) Hits New 1-Year High After Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX)’s share price reached 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 changing hands. The stock had previously closed at $121.47.

Other research analysts have also issued research reports about the stock. BMO Capital Markets raised their price objective on shares of TJX Companies from $116.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $134.00 price objective on shares of TJX Companies in a research note on Wednesday, November 20th. Bank of America raised their target price on TJX Companies from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their price target on shares of TJX Companies from $113.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of TJX Companies from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, TJX Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.47.

Insider Buying and Selling

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $117.54, for a total transaction of $1,763,100.00. Following 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Richard W. Paul & Associates LLC purchased a new position in shares of TJX Companies during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in TJX Companies during the third quarter valued at $29,000. Truvestments Capital LLC purchased a new position in TJX Companies in the third quarter valued at about $29,000. Copeland Capital Management LLC acquired a new position in TJX Companies in the 3rd quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of TJX Companies during the 3rd quarter worth about $30,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

TJX Companies Trading Up 1.1 %

The firm has a market capitalization of $142.31 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. The company has a fifty day moving average price of $116.79 and a 200-day moving average price of $112.88. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35.

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

TJX Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, November 14th. TJX Companies’s payout ratio is 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.