TJX Companies (NYSE:TJX) Reaches New 52-Week High Following Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX)’s stock price reached a new 52-week high during trading 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.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on TJX Companies from $130.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays raised their target price on shares of TJX Companies from $114.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their price target on shares of TJX Companies from $122.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Jefferies Financial Group raised their price objective on shares of TJX Companies from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Citigroup downgraded shares of TJX Companies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $128.00 in a research note on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, TJX Companies currently has an average rating of “Moderate Buy” and a consensus price target of $129.47.

Insider Transactions at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction on Tuesday, September 10th. The shares were 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 owns 536,148 shares of the company’s stock, valued at $63,018,835.92. The trade was a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Richard W. Paul & Associates LLC acquired a new stake in TJX Companies during the 2nd quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of TJX Companies in the third quarter worth $29,000. Truvestments Capital LLC bought a new stake in TJX Companies during the third quarter valued at about $29,000. Copeland Capital Management LLC acquired a new stake in TJX Companies in the 3rd quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in TJX Companies during the third quarter worth $30,000. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Trading Up 2.8 %

The stock has a market capitalization of $140.80 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.99 and a beta of 0.89. The company’s 50 day moving average is $116.63 and its 200 day moving average is $112.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.95 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s payout ratio is 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.