Sanford C. Bernstein Boosts TJX Companies (NYSE:TJX) Price Target to $120.00

TJX Companies (NYSE:TJX) had its price target upped by research analysts at Sanford C. Bernstein from $115.00 to $120.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the apparel and home fashions retailer’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 19.13% from the stock’s current price.

Several other brokerages have also commented on TJX. The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $110.00 in a report on Thursday, April 25th. Robert W. Baird boosted their price objective on TJX Companies from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays boosted their price objective on TJX Companies from $109.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday. Telsey Advisory Group boosted their price objective on TJX Companies from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Cowen upped their target price on TJX Companies from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.05.

TJX Companies Stock Performance

TJX traded down $0.39 during trading hours on Thursday, hitting $100.73. The stock had a trading volume of 3,153,552 shares, compared to its average volume of 5,196,411. The company’s fifty day simple moving average is $97.15 and its 200 day simple moving average is $94.97. TJX Companies has a 1 year low of $75.65 and a 1 year high of $104.98. The stock has a market cap of $114.12 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.64 and a beta of 0.87. 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 posted its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $12.48 billion during the quarter, compared to analyst estimates of $12.48 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts anticipate that TJX Companies will post 4.1 earnings per share for the current year.

TJX Companies announced that its board has approved a stock repurchase program on Wednesday, February 28th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of TJX Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TJX. Norges Bank bought a new stake in TJX Companies in the 4th quarter worth approximately $1,193,438,000. FMR LLC increased its stake in TJX Companies by 13.1% in the 3rd quarter. FMR LLC now owns 52,008,484 shares of the apparel and home fashions retailer’s stock worth $4,622,514,000 after acquiring an additional 6,036,764 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in TJX Companies by 35.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,317,452 shares of the apparel and home fashions retailer’s stock worth $1,249,237,000 after acquiring an additional 3,255,849 shares during the last quarter. Schroder Investment Management Group increased its stake in TJX Companies by 350.9% in the 3rd quarter. Schroder Investment Management Group now owns 2,078,244 shares of the apparel and home fashions retailer’s stock worth $184,714,000 after acquiring an additional 1,617,367 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in TJX Companies by 225.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,137,256 shares of the apparel and home fashions retailer’s stock worth $189,959,000 after acquiring an additional 1,480,837 shares during the last quarter. Institutional investors own 91.09% of the company’s stock.

About TJX Companies

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.