TJX Companies (NYSE:TJX) Sets New 52-Week High Following Dividend Announcement

Key Points

• TJX Companies shares hit a new 52-week high after the retailer announced a dividend, with the stock trading as high as $166.35.
• The company declared a $0.48 per share dividend, payable on September 3 to shareholders of record on August 13, implying an annualized dividend of $1.92 and a 1.2% yield.
• Recent earnings and analyst coverage remain positive: TJX beat quarterly estimates, and Wall Street maintains an overall Buy rating with a consensus price target of $174.58.

The TJX Companies, Inc. (NYSE:TJX - Get Free Report) shares hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $166.35 and last traded at $166.1680, with a volume of 645305 shares changing hands. The stock had previously closed at $164.87.The newly announced dividend which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 13th. TJX Companies's dividend payout ratio (DPR) is presently 37.28%.

Analyst Ratings Changes

TJX has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of TJX Companies in a report on Thursday, May 21st. Evercore reaffirmed an "outperform" rating and set a $175.00 price target on shares of TJX Companies in a research report on Thursday, May 21st. Robert W. Baird boosted their price objective on TJX Companies from $172.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. UBS Group reissued a "buy" rating on shares of TJX Companies in a research note on Tuesday. Finally, BTIG Research lifted their price target on shares of TJX Companies from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $174.58.

TJX Companies Stock Up 0.9%

The stock's fifty day moving average price is $157.07 and its 200-day moving average price is $155.74. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $183.69 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 3.47 and a beta of 0.62.

TJX Companies (NYSE:TJX - Get Free Report) last released its earnings results on Wednesday, May 20th. The apparel and home fashions retailer reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. TJX Companies had a net margin of 9.40% and a return on equity of 57.92%. The business had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. TJX Companies has set its FY 2027 guidance at 5.080-5.150 EPS and its Q2 2027 guidance at 1.150-1.170 EPS. On average, sell-side analysts predict that The TJX Companies, Inc. will post 5.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TJX Companies news, CFO John Klinger sold 6,235 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $160.77, for a total value of $1,002,400.95. Following the completion of the transaction, the chief financial officer directly owned 64,257 shares in the company, valued at $10,330,597.89. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernie Herrman sold 29,549 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $157.46, for a total value of $4,652,785.54. Following the sale, the chief executive officer owned 552,850 shares in the company, valued at approximately $87,051,761. This represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 73,786 shares of company stock valued at $11,695,268. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On TJX Companies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of TJX Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 102,733,668 shares of the apparel and home fashions retailer's stock worth $15,780,919,000 after acquiring an additional 771,882 shares during the last quarter. Geode Capital Management LLC lifted its holdings in TJX Companies by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,104 shares of the apparel and home fashions retailer's stock valued at $4,134,174,000 after purchasing an additional 673,690 shares during the last quarter. Bank of America Corp DE boosted its position in TJX Companies by 2.0% during the fourth quarter. Bank of America Corp DE now owns 25,620,925 shares of the apparel and home fashions retailer's stock worth $3,935,630,000 after purchasing an additional 495,989 shares during the period. Capital International Investors increased its holdings in shares of TJX Companies by 2.0% in the fourth quarter. Capital International Investors now owns 15,986,573 shares of the apparel and home fashions retailer's stock valued at $2,455,911,000 after purchasing an additional 308,408 shares during the last quarter. Finally, Norges Bank bought a new position in shares of TJX Companies in the fourth quarter valued at about $2,211,975,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.

About TJX Companies

TJX Companies, Inc is a leading off-price retailer of apparel, footwear, home fashions and other consumer goods. The company operates multiple retail concepts that offer discounted brand-name and designer merchandise, including well-known banners such as T.J. Maxx and Marshalls in the United States, HomeGoods for home furnishings, TK Maxx in parts of Europe, and Winners and Homesense in Canada. Merchandise categories span women's, men's and children's apparel, accessories, beauty, home décor, kitchenware and small furniture, with frequent changes in assortment that create a “treasure-hunt” shopping experience for consumers.

The company's business model centers on opportunistic buying, purchasing excess, irregular or out-of-season inventory from manufacturers, department stores and other suppliers, and passing savings to customers through lower prices.

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