TJX Companies (NYSE:TJX) Hits New 1-Year High – Here’s Why

The TJX Companies, Inc. (NYSE:TJX) shares reached a new 52-week high on Wednesday . The stock traded as high as $121.14 and last traded at $120.92, with a volume of 396297 shares. The stock had previously closed at $119.85.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group lifted their price objective on shares of TJX Companies from $134.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. StockNews.com upgraded shares of TJX Companies from a “hold” rating to a “buy” rating in a research note on Sunday, September 15th. BMO Capital Markets upped their price objective on shares of TJX Companies from $116.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Loop Capital lifted their target price on shares of TJX Companies from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, TD Cowen upped their target price on TJX Companies from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.76.

TJX Companies Stock Up 1.5 %

The company has a fifty day simple moving average of $116.13 and a two-hundred day simple moving average of $111.14. The firm has a market capitalization of $137.21 billion, a PE ratio of 29.30, a PEG ratio of 3.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.60 and a current ratio of 1.21.

TJX Companies (NYSE:TJX) last released its quarterly earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. TJX Companies had a net margin of 8.56% and a return on equity of 63.19%. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.31 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that The TJX Companies, Inc. will post 4.14 EPS for the current fiscal year.

TJX Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.23%. TJX Companies’s payout ratio is currently 36.23%.

Insider Buying and Selling at TJX Companies

In other news, CEO Ernie Herrman sold 15,000 shares of TJX Companies stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total transaction of $1,763,100.00. Following the completion of the transaction, the chief executive officer now directly owns 536,148 shares of the company’s stock, valued at $63,018,835.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TJX Companies

Several institutional investors and hedge funds have recently modified their holdings of TJX. Richard W. Paul & Associates LLC purchased a new stake in TJX Companies during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in TJX Companies during the 3rd quarter worth approximately $29,000. Truvestments Capital LLC acquired a new stake in shares of TJX Companies in the 3rd quarter valued at $29,000. Copeland Capital Management LLC purchased a new stake in shares of TJX Companies during the 3rd quarter worth $30,000. Finally, New Millennium Group LLC acquired a new position in shares of TJX Companies during the second quarter worth $34,000. Hedge funds and other institutional investors 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.