TJX Companies (NYSE:TJX) Sees Large Volume Increase on Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX) shares saw an uptick in trading volume on Monday after Evercore ISI raised their price target on the stock from $115.00 to $126.00. Evercore ISI currently has an outperform rating on the stock. 2,307,483 shares traded hands during trading, a decline of 57% from the previous session’s volume of 5,364,844 shares.The stock last traded at $112.07 and had previously closed at $111.45.

Several other equities research analysts have also weighed in on TJX. BMO Capital Markets increased their price objective on shares of TJX Companies from $110.00 to $116.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Morgan Stanley increased their price objective on shares of TJX Companies from $113.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Robert W. Baird raised their price target on shares of TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Loop Capital raised their price target on shares of TJX Companies from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group upgraded shares of TJX Companies from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.71.

Insider Activity

In related news, EVP Kenneth Canestrari sold 20,332 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president now directly owns 110,893 shares in the company, valued at $11,089,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy B. Lane sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total transaction of $153,105.00. Following the completion of the sale, the director now directly owns 23,470 shares in the company, valued at $2,395,582.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Canestrari sold 20,332 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the completion of the transaction, the executive vice president now directly owns 110,893 shares of the company’s stock, valued at approximately $11,089,300. The disclosure for this sale can be found here. Insiders sold 50,003 shares of company stock worth $5,060,941 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of TJX Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Chase Investment Counsel Corp grew its position in TJX Companies by 2.5% during the second quarter. Chase Investment Counsel Corp now owns 34,968 shares of the apparel and home fashions retailer’s stock valued at $3,849,000 after purchasing an additional 840 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of TJX Companies by 229.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 221,497 shares of the apparel and home fashions retailer’s stock valued at $24,387,000 after acquiring an additional 154,342 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of TJX Companies in the second quarter worth $37,816,000. Core Alternative Capital raised its holdings in shares of TJX Companies by 2.6% during the second quarter. Core Alternative Capital now owns 55,407 shares of the apparel and home fashions retailer’s stock worth $6,100,000 after acquiring an additional 1,379 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in TJX Companies by 20.2% during the second quarter. Sunbelt Securities Inc. now owns 15,656 shares of the apparel and home fashions retailer’s stock valued at $1,724,000 after purchasing an additional 2,634 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.61. The business has a 50 day simple moving average of $111.26 and a 200 day simple moving average of $102.93. The stock has a market cap of $127.12 billion, a PE ratio of 27.91, a P/E/G ratio of 2.90 and a beta of 0.88.

TJX Companies (NYSE:TJX) last released its quarterly earnings data on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $12.48 billion. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that The TJX Companies, Inc. will post 4.12 EPS for the current fiscal year.

TJX Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 15th. TJX Companies’s payout ratio is presently 37.22%.

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.