The TJX Companies, Inc. (NYSE:TJX) to Issue Quarterly Dividend of $0.38

The TJX Companies, Inc. (NYSE:TJXGet Free Report) announced a quarterly dividend on Tuesday, April 2nd, RTT News reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.375 per share by the apparel and home fashions retailer on Thursday, June 6th. This represents a $1.50 annualized dividend and a yield of 1.51%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33.

TJX Companies has raised its dividend payment by an average of 77.8% annually over the last three years and has raised its dividend every year for the last 2 years. TJX Companies has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TJX Companies to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 29.9%.

TJX Companies Stock Performance

NYSE TJX opened at $99.46 on Wednesday. The stock has a fifty day simple moving average of $98.04 and a 200-day simple moving average of $93.16. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. TJX Companies has a twelve month low of $75.65 and a twelve month high of $102.84. The stock has a market cap of $112.75 billion, a PE ratio of 25.77, a P/E/G ratio of 2.57 and a beta of 0.86.

TJX Companies (NYSE:TJXGet Free Report) last announced its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.20 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that TJX Companies will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of TJX Companies from $95.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Telsey Advisory Group reiterated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a research note on Wednesday, February 28th. BMO Capital Markets boosted their target price on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Redburn Atlantic lowered TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.19.

Check Out Our Latest Analysis on TJX Companies

TJX Companies announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 28th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at TJX Companies

In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction dated 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 owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the transaction, the chief executive officer now directly owns 515,801 shares in the company, 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.

Hedge Funds Weigh In On TJX Companies

Institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd purchased a new position in shares of TJX Companies in the 4th quarter valued at approximately $403,000. SageView Advisory Group LLC grew its position in TJX Companies by 26.8% in the 4th quarter. SageView Advisory Group LLC now owns 21,247 shares of the apparel and home fashions retailer’s stock valued at $2,057,000 after buying an additional 4,487 shares during the last quarter. Childress Capital Advisors LLC grew its position in TJX Companies by 16.8% in the 4th quarter. Childress Capital Advisors LLC now owns 4,754 shares of the apparel and home fashions retailer’s stock valued at $446,000 after buying an additional 685 shares during the last quarter. Oarsman Capital Inc. increased its stake in TJX Companies by 196.1% in the 4th quarter. Oarsman Capital Inc. now owns 7,680 shares of the apparel and home fashions retailer’s stock valued at $720,000 after buying an additional 5,086 shares during the period. Finally, Harbour Investments Inc. raised its position in TJX Companies by 18.7% during the 4th quarter. Harbour Investments Inc. now owns 3,120 shares of the apparel and home fashions retailer’s stock worth $293,000 after buying an additional 491 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for TJX Companies (NYSE:TJX)

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