TJX Companies (NYSE:TJX) Hits New 52-Week High at $111.03

Shares of The TJX Companies, Inc. (NYSE:TJX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $111.03 and last traded at $110.73, with a volume of 2545437 shares traded. The stock had previously closed at $110.26.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TJX shares. TD Cowen increased their target price 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. 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 research note on Thursday, May 23rd. UBS Group raised their price target on shares of TJX Companies from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein raised their price target on shares of TJX Companies from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $114.00 price target on shares of TJX Companies in a research note on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.37.

TJX Companies Stock Performance

The stock’s fifty day simple moving average is $100.73 and its 200 day simple moving average is $97.46. The company has a market cap of $125.46 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.95 and a beta of 0.87. The company has a current ratio of 1.23, a quick ratio of 0.61 and a debt-to-equity ratio of 0.38.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $12.48 billion during the quarter, compared to the consensus estimate of $12.48 billion. TJX Companies had a net margin of 8.47% and a return on equity of 64.26%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. As a group, analysts anticipate that The TJX Companies, Inc. will post 4.09 earnings per share for the current year.

TJX Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.35%. TJX Companies’s dividend payout ratio is currently 37.22%.

TJX Companies announced that its Board of Directors has initiated a share buyback program on Wednesday, February 28th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the apparel and home fashions retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at TJX Companies

In related news, Director Amy B. Lane sold 1,500 shares of TJX Companies stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $102.07, for a total value of $153,105.00. Following the completion of the sale, the director now owns 23,470 shares in the company, valued at approximately $2,395,582.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Louise Greenlees sold 8,171 shares of TJX Companies stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 owns 49,570 shares in the company, valued at approximately $5,042,756.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane sold 1,500 shares of TJX Companies 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 owns 23,470 shares of the company’s stock, valued at approximately $2,395,582.90. The disclosure for this sale can be found here. Insiders sold 50,003 shares of company stock worth $5,060,941 in the last 90 days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manhattan West Asset Management LLC boosted its position in TJX Companies by 0.4% in the 1st quarter. Manhattan West Asset Management LLC now owns 24,670 shares of the apparel and home fashions retailer’s stock valued at $2,502,000 after buying an additional 103 shares during the period. Bedel Financial Consulting Inc. lifted its position in shares of TJX Companies by 3.4% during the 4th quarter. Bedel Financial Consulting Inc. now owns 3,190 shares of the apparel and home fashions retailer’s stock worth $299,000 after purchasing an additional 104 shares during the last quarter. TRUE Private Wealth Advisors lifted its position in shares of TJX Companies by 3.7% during the 1st quarter. TRUE Private Wealth Advisors now owns 2,932 shares of the apparel and home fashions retailer’s stock worth $297,000 after purchasing an additional 104 shares during the last quarter. Tandem Investment Advisors Inc. lifted its position in shares of TJX Companies by 1.8% during the 4th quarter. Tandem Investment Advisors Inc. now owns 5,846 shares of the apparel and home fashions retailer’s stock worth $548,000 after purchasing an additional 106 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in shares of TJX Companies by 2.6% during the 1st quarter. TCI Wealth Advisors Inc. now owns 4,214 shares of the apparel and home fashions retailer’s stock worth $427,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

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.