TJX Companies (NYSE:TJX) Upgraded by UBS Group to "Buy"

UBS Group upgraded shares of TJX Companies (NYSE:TJX - Free Report) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat reports. UBS Group currently has $132.00 price target on the apparel and home fashions retailer's stock, up from their previous price target of $104.00.

Several other research analysts have also issued reports on the stock. Redburn Atlantic lowered shares of TJX Companies from a buy rating to a neutral rating and set a $100.00 price target on the stock. in a research report on Monday, February 5th. The Goldman Sachs Group raised shares of TJX Companies from a neutral rating to a buy rating and lifted their target price for the company from $100.00 to $110.00 in a research note on Thursday, April 25th. Telsey Advisory Group reissued an outperform rating and set a $105.00 target price on shares of TJX Companies in a research note on Wednesday, February 28th. Finally, BMO Capital Markets lifted their target price on shares of TJX Companies from $95.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, TJX Companies has an average rating of Moderate Buy and a consensus price target of $104.29.

TJX Companies Price Performance

Shares of NYSE TJX traded up $1.09 during mid-day trading on Thursday, reaching $94.91. 6,307,190 shares of the company traded hands, compared to its average volume of 5,073,258. TJX Companies has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The firm has a market cap of $107.53 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. The stock has a fifty day simple moving average of $97.11 and a 200-day simple moving average of $94.02.

TJX Companies (NYSE:TJX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Equities research analysts anticipate that TJX Companies will post 4.07 EPS for the current fiscal year.

TJX Companies declared that its board has initiated a stock repurchase program on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.375 per share. This is an increase from TJX Companies's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.58%. TJX Companies's payout ratio is presently 34.46%.

Insider Transactions at TJX Companies

In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction dated 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 sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On TJX Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC boosted its position in TJX Companies by 260.3% in the first quarter. Valued Wealth Advisors LLC now owns 245 shares of the apparel and home fashions retailer's stock valued at $25,000 after buying an additional 177 shares in the last quarter. First Pacific Financial acquired a new position in TJX Companies in the first quarter valued at about $29,000. Frazier Financial Advisors LLC acquired a new position in TJX Companies in the fourth quarter valued at about $27,000. Anchor Investment Management LLC acquired a new position in TJX Companies in the fourth quarter valued at about $28,000. Finally, OFI Invest Asset Management acquired a new position in TJX Companies in the first quarter valued at about $30,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.

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.