TJX Companies (NYSE:TJX) Sets New 1-Year High - Here's Why

The TJX Companies, Inc. (NYSE:TJX - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $131.54 and last traded at $131.43, with a volume of 4809784 shares traded. The stock had previously closed at $128.10.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on TJX Companies from $136.00 to $137.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Wells Fargo & Company raised their price objective on TJX Companies from $115.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Telsey Advisory Group restated an "outperform" rating and set a $145.00 price target on shares of TJX Companies in a report on Thursday, February 27th. Morgan Stanley reduced their price objective on TJX Companies from $136.00 to $133.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Robert W. Baird boosted their price target on shares of TJX Companies from $138.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, TJX Companies currently has a consensus rating of "Moderate Buy" and an average price target of $137.25.

TJX Companies Stock Up 1.4%

The firm has a market capitalization of $148.14 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The business has a 50 day moving average of $123.64 and a 200 day moving average of $122.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50.

TJX Companies (NYSE:TJX - Get Free Report) last announced its earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 EPS for the quarter, topping the consensus estimate of $1.16 by $0.07. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business had revenue of $16.35 billion for the quarter, compared to the consensus estimate of $16.24 billion. On average, equities analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.425 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.70 dividend on an annualized basis and a yield of 1.28%. This is a boost from TJX Companies's previous quarterly dividend of $0.38. TJX Companies's dividend payout ratio (DPR) is currently 39.91%.

Insider Activity at TJX Companies

In related news, CEO Ernie Herrman sold 23,428 shares of TJX Companies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the sale, the chief executive officer now directly owns 484,189 shares in the company, valued at $59,569,772.67. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Bennett sold 8,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TJX Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in TJX Companies in the 4th quarter valued at $1,670,565,000. Nuveen LLC purchased a new position in TJX Companies during the first quarter worth about $1,330,717,000. Raymond James Financial Inc. purchased a new position in TJX Companies during the fourth quarter worth about $570,342,000. GAMMA Investing LLC grew its position in TJX Companies by 14,486.1% in the 1st quarter. GAMMA Investing LLC now owns 2,912,116 shares of the apparel and home fashions retailer's stock worth $354,696,000 after purchasing an additional 2,892,151 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in TJX Companies by 689.6% in the 4th quarter. Capital Research Global Investors now owns 2,595,085 shares of the apparel and home fashions retailer's stock valued at $313,512,000 after buying an additional 2,266,415 shares during the last quarter. 91.09% of the stock is owned by institutional investors.

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.