TJX Companies Inc (NYSE:TJX) Plans $0.23 Quarterly Dividend

TJX Companies Inc (NYSE:TJX) declared a quarterly dividend on Tuesday, June 4th, RTT News reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.23 per share by the apparel and home fashions retailer on Thursday, September 5th. This represents a $0.92 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, August 14th.

TJX Companies has raised its dividend payment by an average of 22.6% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. TJX Companies has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TJX Companies to earn $2.85 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 32.3%.

Shares of TJX stock opened at $51.90 on Tuesday. The stock has a market capitalization of $64.22 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The company’s 50 day simple moving average is $54.13. The company has a current ratio of 1.23, a quick ratio of 0.46 and a debt-to-equity ratio of 1.92. TJX Companies has a 52-week low of $41.49 and a 52-week high of $57.15.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.21 billion. TJX Companies had a net margin of 7.69% and a return on equity of 57.47%. TJX Companies’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. On average, analysts anticipate that TJX Companies will post 2.63 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. ValuEngine lowered shares of TJX Companies from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Robert W. Baird assumed coverage on shares of TJX Companies in a report on Monday, May 13th. They set an “outperform” rating and a $63.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of TJX Companies from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of TJX Companies from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, May 24th. Finally, Nomura raised their target price on shares of TJX Companies from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $58.34.

In other TJX Companies news, Director David T. Ching sold 20,000 shares of TJX Companies stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $52.20, for a total value of $1,044,000.00. Following the completion of the transaction, the director now owns 28,771 shares of the company’s stock, valued at $1,501,846.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Sherr sold 1,480 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $51.35, for a total transaction of $75,998.00. Following the sale, the executive vice president now directly owns 117,228 shares of the company’s stock, valued at approximately $6,019,657.80. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

TJX Companies Company Profile

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.

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Dividend History for TJX Companies (NYSE:TJX)

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