TJX Companies (NYSE:TJX) Hits New 12-Month High After Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX)’s stock price reached a new 52-week high 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 traded. The stock had previously closed at $121.47.

Several other research analysts have also weighed in on TJX. Barclays increased their target price on TJX Companies from $114.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on TJX Companies from $130.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. BMO Capital Markets boosted their target price on TJX Companies from $116.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Evercore ISI increased their price objective on shares of TJX Companies from $138.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley lifted 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.47.

Insider Activity

In related 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 value of $1,763,100.00. Following the completion of the transaction, the chief executive officer now directly owns 536,148 shares in the company, valued at approximately $63,018,835.92. This trade represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

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

TJX Companies Price Performance

The company has a market capitalization of $142.31 billion, a P/E ratio of 29.69, a PEG ratio of 2.99 and a beta of 0.89. The company has a quick ratio of 0.50, a current ratio of 1.19 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $116.79 and a 200-day simple moving average of $112.88.

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 analyst estimates of $13.95 billion. During the same period in the previous year, the business posted $1.03 EPS. TJX Companies’s revenue was up 6.0% on a year-over-year basis. Analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, November 14th. TJX Companies’s dividend payout ratio is currently 35.29%.

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.