TJX Companies (NYSE:TJX) Price Target Raised to $116.00 at BMO Capital Markets

TJX Companies (NYSE:TJXFree Report) had its target price hoisted by BMO Capital Markets from $110.00 to $116.00 in a research note issued to investors on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the apparel and home fashions retailer’s stock.

Other research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of TJX Companies from $109.00 to $114.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Evercore ISI set a $113.00 price target on TJX Companies in a research report on Tuesday, May 21st. Sanford C. Bernstein lifted their target price on TJX Companies from $115.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised shares of TJX Companies from a neutral rating to a buy rating and increased their price target for the company from $100.00 to $110.00 in a research report on Thursday, April 25th. Finally, TD Cowen boosted their price objective on shares of TJX Companies from $119.00 to $120.00 and gave the stock a buy rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $110.37.

Check Out Our Latest Report on TJX

TJX Companies Stock Performance

TJX Companies stock opened at $105.44 on Monday. TJX Companies has a 1-year low of $77.25 and a 1-year high of $105.67. The company’s 50-day moving average is $97.80 and its 200 day moving average is $95.67. The firm has a market capitalization of $119.46 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.61.

TJX Companies (NYSE:TJXGet Free Report) last issued its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. TJX Companies had a net margin of 8.47% and a return on equity of 64.26%. The firm had revenue of $12.48 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Research analysts forecast that TJX Companies will post 4.09 EPS for the current year.

TJX Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.375 dividend. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. This represents a $1.50 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is presently 37.22%.

TJX Companies announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the apparel and home fashions retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Kenneth Canestrari sold 20,332 shares of TJX Companies stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $2,033,200.00. Following the sale, the executive vice president now directly owns 110,893 shares of the company’s stock, valued at $11,089,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Louise Greenlees sold 8,171 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $101.73, for a total value of $831,235.83. Following the completion of the sale, the executive vice president now directly owns 49,570 shares in the company, valued at $5,042,756.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Canestrari sold 20,332 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $2,033,200.00. Following the transaction, the executive vice president now directly owns 110,893 shares in the company, valued at approximately $11,089,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,003 shares of company stock worth $7,040,541. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

A number of institutional investors have recently bought and sold shares of TJX. Norges Bank purchased a new stake in TJX Companies in the fourth quarter valued at $1,193,438,000. FMR LLC increased its position in shares of TJX Companies by 13.1% during the 3rd quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock worth $4,622,514,000 after purchasing an additional 6,036,764 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of TJX Companies by 35.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,317,452 shares of the apparel and home fashions retailer’s stock worth $1,249,237,000 after purchasing an additional 3,255,849 shares during the last quarter. Schroder Investment Management Group increased its position in shares of TJX Companies by 350.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock worth $184,714,000 after purchasing an additional 1,617,367 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of TJX Companies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 97,476,558 shares of the apparel and home fashions retailer’s stock worth $9,886,073,000 after purchasing an additional 1,269,792 shares during the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

TJX Companies Company Profile

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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.

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Analyst Recommendations for TJX Companies (NYSE:TJX)

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