TJX Companies (NYSE:TJX) Upgraded by UBS Group to “Buy”

UBS Group upgraded shares of TJX Companies (NYSE:TJX) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat reports. The brokerage currently has $132.00 price objective on the apparel and home fashions retailer’s stock, up from their prior price objective of $104.00.

A number of other analysts have also recently issued reports on TJX. BMO Capital Markets lifted their target price on shares of TJX Companies from $95.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Telsey Advisory Group reissued an outperform rating and set a $105.00 target price on shares of TJX Companies in a research report on Wednesday, February 28th. Redburn Atlantic cut TJX Companies from a buy rating to a neutral rating and set a $100.00 price target for the company. in a research report on Monday, February 5th. Finally, The Goldman Sachs Group raised TJX Companies from a neutral rating to a buy rating and increased their price objective for the company from $100.00 to $110.00 in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $104.29.

TJX Companies Stock Up 0.2 %

TJX Companies stock traded up $0.20 during trading hours on Thursday, hitting $95.11. The company had a trading volume of 5,894,076 shares, compared to its average volume of 5,182,456. TJX Companies has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.21 and a quick ratio of 0.64. The firm has a market capitalization of $107.76 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87. The firm’s fifty day moving average is $97.03 and its 200-day moving average is $94.02.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. TJX Companies’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. On average, research analysts forecast that TJX Companies will post 4.07 earnings per share for the current year.

TJX Companies announced that its Board of Directors has approved a share buyback program on Wednesday, February 28th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the apparel and home fashions retailer to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management 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. Investors of record on Thursday, May 16th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.58%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies’s payout ratio is currently 34.46%.

Insider Transactions at TJX Companies

In related news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the transaction, the executive vice president now directly owns 50,273 shares in the company, valued at $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction that occurred 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 sale, the executive vice president now directly owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On TJX Companies

A number of hedge funds have recently made changes to their positions in TJX. Kingswood Wealth Advisors LLC acquired a new stake in shares of TJX Companies in the 3rd quarter valued at $193,000. Robeco Institutional Asset Management B.V. raised its position in shares of TJX Companies by 7.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 176,852 shares of the apparel and home fashions retailer’s stock valued at $15,719,000 after acquiring an additional 12,830 shares during the period. Mission Wealth Management LP boosted its stake in TJX Companies by 2.9% during the 3rd quarter. Mission Wealth Management LP now owns 5,296 shares of the apparel and home fashions retailer’s stock worth $471,000 after acquiring an additional 149 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in TJX Companies by 13.0% during the third quarter. Simon Quick Advisors LLC now owns 3,292 shares of the apparel and home fashions retailer’s stock valued at $293,000 after purchasing an additional 378 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in TJX Companies by 39.5% in the third quarter. Stratos Wealth Partners LTD. now owns 38,689 shares of the apparel and home fashions retailer’s stock valued at $3,439,000 after purchasing an additional 10,946 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Company Profile

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.