TJX Companies (NYSE:TJX) Price Target Raised to $114.00 at Barclays

TJX Companies (NYSE:TJXFree Report) had its price target lifted by Barclays from $109.00 to $114.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the apparel and home fashions retailer’s stock.

A number of other research firms also recently weighed in on TJX. Telsey Advisory Group upped their target price on TJX Companies from $112.00 to $115.00 and gave the company an outperform rating in a research report on Thursday. BMO Capital Markets increased their price objective on shares of TJX Companies from $95.00 to $110.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Redburn Atlantic cut shares of TJX Companies from a buy rating to a neutral rating and set a $100.00 target price for the company. in a research report on Monday, February 5th. UBS Group increased their price target on shares of TJX Companies from $132.00 to $134.00 and gave the stock a buy rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $114.00 price objective on shares of TJX Companies in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, TJX Companies currently has an average rating of Moderate Buy and a consensus target price of $110.05.

Read Our Latest Stock Analysis on TJX

TJX Companies Price Performance

NYSE:TJX opened at $102.14 on Thursday. TJX Companies has a 52 week low of $75.65 and a 52 week high of $104.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.64 and a current ratio of 1.23. The firm’s 50-day simple moving average is $97.27 and its 200 day simple moving average is $95.15. The firm has a market cap of $115.72 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 2.72 and a beta of 0.87.

TJX Companies (NYSE:TJXGet Free Report) last announced its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. The company had revenue of $12.48 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. As a group, sell-side analysts predict that TJX Companies will post 4.09 earnings per share for the current year.

TJX Companies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

TJX Companies Increases Dividend

The company also recently declared 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 a boost from TJX Companies’s previous quarterly dividend of $0.33. This represents a $1.50 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s payout ratio is 37.22%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in TJX Companies by 1.3% in the first quarter. Vanguard Group Inc. now owns 97,476,558 shares of the apparel and home fashions retailer’s stock valued at $9,886,073,000 after buying an additional 1,269,792 shares during the period. FMR LLC lifted its stake in shares of TJX Companies by 13.1% in the 3rd quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock valued at $4,622,514,000 after purchasing an additional 6,036,764 shares during the period. Morgan Stanley boosted its position in shares of TJX Companies by 1.5% during the 3rd quarter. Morgan Stanley now owns 24,752,978 shares of the apparel and home fashions retailer’s stock valued at $2,200,045,000 after purchasing an additional 371,163 shares in the last quarter. Royal Bank of Canada grew its stake in TJX Companies by 7.9% during the fourth quarter. Royal Bank of Canada now owns 14,219,312 shares of the apparel and home fashions retailer’s stock worth $1,333,913,000 after purchasing an additional 1,046,148 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of TJX Companies by 2.3% during the 3rd quarter. Northern Trust Corp now owns 13,734,141 shares of the apparel and home fashions retailer’s stock worth $1,220,690,000 after buying an additional 313,530 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

About TJX Companies

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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.

Further Reading

Analyst Recommendations for TJX Companies (NYSE:TJX)

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