UBS Group Boosts TJX Companies (NYSE:TJX) Price Target to $134.00

TJX Companies (NYSE:TJX) had its price target lifted by UBS Group from $132.00 to $134.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the apparel and home fashions retailer’s stock.

A number of other research firms have also recently issued reports on TJX. Redburn Atlantic cut TJX Companies from a buy rating to a neutral rating and set a $100.00 price objective for the company. in a report on Monday, February 5th. Telsey Advisory Group boosted their target price on shares of TJX Companies from $112.00 to $115.00 and gave the company an outperform rating in a research note on Thursday. TD Cowen raised their price target on shares of TJX Companies from $119.00 to $120.00 and gave the stock a buy rating in a research note on Friday, May 17th. Evercore ISI set a $113.00 price objective on shares of TJX Companies in a research report on Tuesday, May 21st. Finally, Robert W. Baird upped their target price on shares of TJX Companies from $110.00 to $113.00 and gave the stock an outperform rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $110.05.

TJX Companies Stock Up 2.0 %

Shares of NYSE TJX opened at $102.14 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.64 and a debt-to-equity ratio of 0.38. TJX Companies has a 12-month low of $75.65 and a 12-month high of $104.98. The firm’s 50-day moving average price is $97.27 and its 200-day moving average price is $95.12. The stock has a market capitalization 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:TJX) last issued its quarterly earnings data on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $12.48 billion. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. On average, equities research analysts anticipate that TJX Companies will post 4.09 EPS for the current fiscal year.

TJX Companies declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.375 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s payout ratio is currently 37.22%.

Insider Buying and Selling

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

Institutional Investors Weigh In On TJX Companies

A number of hedge funds have recently modified their holdings of the company. Cetera Advisors LLC grew its stake in shares of TJX Companies by 33.2% in the 1st quarter. Cetera Advisors LLC now owns 86,909 shares of the apparel and home fashions retailer’s stock valued at $8,814,000 after buying an additional 21,667 shares during the period. Cetera Investment Advisers increased its stake in TJX Companies by 232.7% during the first quarter. Cetera Investment Advisers now owns 239,766 shares of the apparel and home fashions retailer’s stock worth $24,317,000 after acquiring an additional 167,703 shares during the last quarter. Community Trust & Investment Co. raised its position in TJX Companies by 0.6% in the first quarter. Community Trust & Investment Co. now owns 189,339 shares of the apparel and home fashions retailer’s stock valued at $19,203,000 after purchasing an additional 1,160 shares during the period. Atria Investments Inc lifted its stake in shares of TJX Companies by 4.5% in the 1st quarter. Atria Investments Inc now owns 132,223 shares of the apparel and home fashions retailer’s stock valued at $13,403,000 after purchasing an additional 5,737 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of TJX Companies during the 1st quarter worth $72,444,000. Hedge funds and other 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.