TJX Companies (NYSE:TJX) Reaches New 12-Month High on Analyst Upgrade

Shares of The TJX Companies, Inc. (NYSE:TJX) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $127.00 to $130.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. TJX Companies traded as high as $134.31 and last traded at $134.06, with a volume of 601440 shares changing hands. The stock had previously closed at $133.34.

Several other brokerages also recently commented on TJX. BMO Capital Markets upped their price target on shares of TJX Companies from $133.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on TJX Companies from $136.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. StockNews.com upgraded TJX Companies from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Barclays upped their price target on TJX Companies from $136.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird increased their price objective on TJX Companies from $138.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.82.

Insider Activity

In other news, Director Alan M. Bennett sold 8,000 shares of TJX Companies stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total value of $988,240.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernie Herrman sold 23,428 shares of the business’s stock in a transaction 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 owns 484,189 shares of the company’s stock, valued at $59,569,772.67. The trade was a 4.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clear Creek Financial Management LLC increased its stake in shares of TJX Companies by 1.8% in the first quarter. Clear Creek Financial Management LLC now owns 4,811 shares of the apparel and home fashions retailer’s stock worth $586,000 after purchasing an additional 83 shares during the period. Knuff & Co LLC increased its position in TJX Companies by 8.5% in the 1st quarter. Knuff & Co LLC now owns 1,056 shares of the apparel and home fashions retailer’s stock worth $129,000 after buying an additional 83 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of TJX Companies by 1.7% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,987 shares of the apparel and home fashions retailer’s stock worth $603,000 after buying an additional 84 shares during the last quarter. Nwam LLC lifted its holdings in shares of TJX Companies by 2.0% during the fourth quarter. Nwam LLC now owns 4,338 shares of the apparel and home fashions retailer’s stock worth $524,000 after buying an additional 84 shares during the last quarter. Finally, One Charles Private Wealth Services LLC boosted its position in shares of TJX Companies by 5.0% in the fourth quarter. One Charles Private Wealth Services LLC now owns 1,805 shares of the apparel and home fashions retailer’s stock valued at $218,000 after acquiring an additional 86 shares during the period. 91.09% of the stock is currently owned by institutional investors and hedge funds.

TJX Companies Stock Performance

The firm’s 50 day moving average price is $124.69 and its 200-day moving average price is $123.19. The firm has a market cap of $150.86 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.63% and a return on equity of 61.82%. On average, analysts anticipate that The TJX Companies, Inc. will post 4.18 earnings per share for the current year.

TJX Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.38. TJX Companies’s payout ratio is 39.91%.

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.