TJX Companies (NYSE:TJX) Reaches New 1-Year High at $111.62

The TJX Companies, Inc. (NYSE:TJX) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $111.62 and last traded at $111.60, with a volume of 1934757 shares. The stock had previously closed at $110.67.

Wall Street Analyst Weigh In

Several brokerages have commented on TJX. The Goldman Sachs Group raised shares of TJX Companies from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $110.00 in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft set a $114.00 target price on TJX Companies in a research note on Tuesday, May 21st. Sanford C. Bernstein upped their price objective on shares of TJX Companies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Evercore ISI set a $113.00 price target on shares of TJX Companies in a research note on Tuesday, May 21st. Finally, Robert W. Baird raised their price objective on shares of TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.37.

TJX Companies Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 1.23. The stock has a market capitalization of $125.19 billion, a P/E ratio of 27.48, a PEG ratio of 2.96 and a beta of 0.87. The business has a 50-day moving average price of $101.44 and a 200 day moving average price of $97.90.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. TJX Companies had a net margin of 8.47% and a return on equity of 64.26%. The business had revenue of $12.48 billion during the quarter, compared to analysts’ expectations of $12.48 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The TJX Companies, Inc. will post 4.09 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.50 dividend on an annualized basis and a yield of 1.35%. TJX Companies’s dividend payout ratio is presently 37.22%.

TJX Companies declared that its board has authorized a share repurchase plan on Wednesday, February 28th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the apparel and home fashions retailer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other TJX Companies news, EVP Kenneth Canestrari sold 20,332 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president now directly owns 110,893 shares of the company’s stock, valued at $11,089,300. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $102.17, for a total value of $2,043,400.00. Following the completion of the sale, the chief executive officer now directly owns 571,148 shares of the company’s stock, valued at approximately $58,354,191.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Canestrari sold 20,332 shares of TJX Companies stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $2,033,200.00. Following the transaction, the executive vice president now directly owns 110,893 shares in the company, valued at approximately $11,089,300. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,003 shares of company stock valued at $5,060,941. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Running Oak Capital LLC raised its holdings in shares of TJX Companies by 10.9% in the 1st quarter. Running Oak Capital LLC now owns 111,987 shares of the apparel and home fashions retailer’s stock valued at $11,358,000 after purchasing an additional 11,036 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in TJX Companies by 3.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 603,482 shares of the apparel and home fashions retailer’s stock valued at $56,613,000 after acquiring an additional 21,767 shares in the last quarter. Savoir Faire Capital Management L.P. purchased a new position in shares of TJX Companies in the 3rd quarter valued at $3,197,000. Gateway Investment Advisers LLC raised its position in shares of TJX Companies by 42.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 19,108 shares of the apparel and home fashions retailer’s stock worth $1,793,000 after acquiring an additional 5,737 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank lifted its stake in shares of TJX Companies by 109.1% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 148,954 shares of the apparel and home fashions retailer’s stock worth $13,239,000 after purchasing an additional 77,711 shares during the last quarter. Institutional investors own 91.09% of the company’s stock.

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.