TJX Companies (NYSE:TJX) Lifted to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of TJX Companies (NYSE:TJX) from a neutral rating to a buy rating in a report issued on Thursday morning, Marketbeat reports. They currently have $110.00 price objective on the apparel and home fashions retailer’s stock, up from their prior price objective of $100.00.

Other research analysts also recently issued reports about the company. Telsey Advisory Group reiterated an outperform rating and set a $105.00 price objective on shares of TJX Companies in a research note on Wednesday, February 28th. UBS Group boosted their price objective on TJX Companies from $95.00 to $104.00 and gave the company a neutral rating in a research note on Friday, March 1st. BMO Capital Markets boosted their price objective on TJX Companies from $95.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Finally, Redburn Atlantic downgraded TJX Companies from a buy rating to a neutral rating and set a $100.00 price objective for the company. in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $102.65.

TJX Companies Trading Down 0.1 %

TJX Companies stock opened at $96.36 on Thursday. The business has a 50-day simple moving average of $97.33 and a two-hundred day simple moving average of $93.94. The company has a market cap of $109.17 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.48 and a beta of 0.86. TJX Companies has a 52-week low of $75.65 and a 52-week high of $102.84. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.39.

TJX Companies (NYSE:TJX) last released its quarterly 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. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Analysts predict that TJX Companies will post 4.07 EPS for the current year.

TJX Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.56%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio is 34.46%.

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

Insider Transactions at TJX Companies

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

Institutional Trading of TJX Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Frazier Financial Advisors LLC bought a new position in TJX Companies in the 4th quarter valued at $27,000. Anchor Investment Management LLC bought a new position in TJX Companies in the 4th quarter valued at $28,000. First Pacific Financial bought a new position in TJX Companies in the 1st quarter valued at $29,000. BKM Wealth Management LLC bought a new position in TJX Companies in the 4th quarter valued at $30,000. Finally, AlphaMark Advisors LLC grew its position in TJX Companies by 58.4% in the 1st quarter. AlphaMark Advisors LLC now owns 331 shares of the apparel and home fashions retailer’s stock valued at $34,000 after acquiring an additional 122 shares during the last quarter. 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.