TJX Companies (NYSE:TJX) Upgraded by UBS Group to Buy

UBS Group upgraded shares of TJX Companies (NYSE:TJX) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat reports. They currently have $132.00 price target on the apparel and home fashions retailer’s stock, up from their previous price target of $104.00.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of TJX Companies from $95.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, February 29th. The Goldman Sachs Group raised TJX Companies from a neutral rating to a buy rating and increased their price target for the company from $100.00 to $110.00 in a report on Thursday, April 25th. Redburn Atlantic downgraded TJX Companies from a buy rating to a neutral rating and set a $100.00 price objective on the stock. in a report on Monday, February 5th. Finally, Telsey Advisory Group reiterated an outperform rating and set a $105.00 target price on shares of TJX Companies in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, TJX Companies currently has a consensus rating of Moderate Buy and an average price target of $104.29.

TJX Companies Stock Performance

Shares of NYSE:TJX opened at $95.11 on Thursday. The business’s 50-day simple moving average is $96.94 and its 200 day simple moving average is $94.11. The company has a market cap of $107.76 billion, a P/E ratio of 24.64, a PEG ratio of 2.45 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. TJX Companies has a one year low of $75.65 and a one year high of $102.84.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data 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 company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. On average, sell-side analysts forecast that TJX Companies will post 4.07 earnings per share for the current fiscal year.

TJX Companies declared that its board has initiated a stock repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the apparel and home fashions retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, May 15th. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s dividend payout ratio is currently 34.46%.

Insider Buying and Selling

In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction 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 transaction, the executive vice president now directly owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Ernie Herrman sold 20,000 shares of the business’s 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 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 can be accessed through the SEC website. 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 completion of the transaction, the executive vice president now owns 50,273 shares of the company’s stock, valued at approximately $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

Hedge funds have recently bought and sold shares of the company. Valued Wealth Advisors LLC raised its holdings in shares of TJX Companies by 260.3% during the first quarter. Valued Wealth Advisors LLC now owns 245 shares of the apparel and home fashions retailer’s stock valued at $25,000 after acquiring an additional 177 shares during the period. Frazier Financial Advisors LLC acquired a new stake in TJX Companies during the 4th quarter valued at $27,000. Anchor Investment Management LLC purchased a new stake in shares of TJX Companies in the fourth quarter valued at $28,000. First Pacific Financial acquired a new stake in shares of TJX Companies in the first quarter worth $29,000. Finally, BKM Wealth Management LLC acquired a new position in TJX Companies during the fourth quarter valued at $30,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

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.