TD Cowen Raises TJX Companies (NYSE:TJX) Price Target to $120.00

TJX Companies (NYSE:TJX - Free Report) had its price objective boosted by TD Cowen from $119.00 to $120.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the apparel and home fashions retailer's stock.

Other equities research analysts have also recently issued research reports about the stock. Redburn Atlantic cut shares of TJX Companies from a buy rating to a neutral rating and set a $100.00 target price on the stock. in a report on Monday, February 5th. BMO Capital Markets lifted their price target on TJX Companies from $95.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, February 29th. UBS Group raised shares of TJX Companies from a neutral rating to a buy rating and increased their price target for the stock from $104.00 to $132.00 in a report on Thursday, May 2nd. Telsey Advisory Group restated an outperform rating and set a $112.00 price target on shares of TJX Companies in a research report on Friday. Finally, The Goldman Sachs Group raised shares of TJX Companies from a neutral rating to a buy rating and increased their target price for the company from $100.00 to $110.00 in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, TJX Companies currently has an average rating of Moderate Buy and an average target price of $105.56.

TJX Companies Trading Up 1.4 %

TJX stock traded up $1.37 during midday trading on Friday, hitting $100.29. The stock had a trading volume of 6,453,779 shares, compared to its average volume of 5,072,738. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $97.05 and a two-hundred day moving average price of $94.73. TJX Companies has a 1-year low of $75.65 and a 1-year high of $102.84. The firm has a market cap of $113.63 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 2.52 and a beta of 0.87.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The company had revenue of $16.41 billion for the quarter, compared to analysts' expectations of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, sell-side analysts predict that TJX Companies will post 4.1 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 annualized dividend and a yield of 1.50%. This is a boost from TJX Companies's previous quarterly dividend of $0.33. TJX Companies's dividend payout ratio is currently 38.86%.

TJX Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to repurchase up to 2.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total value of $1,979,600.00. Following the transaction, the chief executive officer now owns 515,801 shares in the company, valued at approximately $51,053,982.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Louise Greenlees sold 2,694 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $98.83, for a total transaction of $266,248.02. Following the completion of the transaction, the executive vice president now directly owns 50,273 shares in the company, valued at approximately $4,968,480.59. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Trading of TJX Companies

Hedge funds have recently bought and sold shares of the stock. Valued Wealth Advisors LLC increased its stake in TJX Companies by 260.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 245 shares of the apparel and home fashions retailer's stock worth $25,000 after buying an additional 177 shares in the last quarter. First Pacific Financial purchased a new stake in shares of TJX Companies during the first quarter worth about $29,000. Frazier Financial Advisors LLC bought a new stake in TJX Companies during the 4th quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new position in TJX Companies in the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management purchased a new position in TJX Companies in the 1st quarter worth approximately $30,000. Institutional investors own 91.09% of the company's stock.

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.