TJX Companies (NYSE:TJX) Sets New 1-Year High – Here’s Why

The TJX Companies, Inc. (NYSE:TJX) shares reached a new 52-week high on Thursday . The stock traded as high as $128.00 and last traded at $126.22, with a volume of 1474872 shares. The stock had previously closed at $124.93.

Analysts Set New Price Targets

TJX has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of TJX Companies from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 10th. StockNews.com downgraded TJX Companies from a “buy” rating to a “hold” rating in a research note on Friday. Barclays lifted their target price on TJX Companies from $136.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Robert W. Baird increased their price target on TJX Companies from $138.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Morgan Stanley raised their price objective on shares of TJX Companies from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.76.

TJX Companies Stock Performance

The firm has a market cap of $137.06 billion, a P/E ratio of 28.69, a PEG ratio of 2.75 and a beta of 0.96. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $121.69 and its two-hundred day moving average is $120.37.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. The company had revenue of $16.35 billion for the quarter, compared to analyst estimates of $16.24 billion. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. As a group, equities analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.39%. This is an increase from TJX Companies’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, May 15th. TJX Companies’s payout ratio is currently 35.21%.

Insider Activity

In related news, CEO Ernie Herrman sold 23,428 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the completion of the sale, the chief executive officer now directly owns 484,189 shares of the company’s stock, valued at approximately $59,569,772.67. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan M. Bennett sold 8,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TJX Companies

A number of hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC bought a new stake in TJX Companies in the fourth quarter worth about $25,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of TJX Companies during the 4th quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new stake in shares of TJX Companies in the 3rd quarter worth approximately $30,000. SOA Wealth Advisors LLC. purchased a new position in TJX Companies in the fourth quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC bought a new position in TJX Companies during the fourth quarter valued at $30,000. 91.09% of the stock is currently owned by institutional investors.

TJX Companies Company Profile

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.