UBS Group Boosts TJX Companies (NYSE:TJX) Price Target to $134.00

TJX Companies (NYSE:TJX) had its target price upped by investment analysts at UBS Group from $132.00 to $134.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the apparel and home fashions retailer’s stock. UBS Group’s price objective suggests a potential upside of 31.19% from the company’s current price.

Several other brokerages also recently weighed in on TJX. Deutsche Bank Aktiengesellschaft set a $114.00 target price on shares of TJX Companies in a research note on Tuesday. Robert W. Baird increased their price target on TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI set a $113.00 price target on TJX Companies in a research note on Tuesday. The Goldman Sachs Group raised shares of TJX Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $110.00 in a research report on Thursday, April 25th. Finally, Redburn Atlantic downgraded shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.05.

TJX Companies Price Performance

NYSE TJX opened at $102.14 on Thursday. The company has a market cap of $115.72 billion, a PE ratio of 25.34, a P/E/G ratio of 2.67 and a beta of 0.87. The firm’s 50 day moving average price is $97.27 and its 200-day moving average price is $95.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.64 and a current ratio of 1.23. TJX Companies has a 52-week low of $75.65 and a 52-week high of $104.98.

TJX Companies (NYSE:TJX) last announced its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. The business had revenue of $12.48 billion for the quarter, compared to analysts’ expectations of $12.48 billion. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. Sell-side analysts forecast that TJX Companies will post 4.08 EPS for the current fiscal year.

TJX Companies announced that its board has initiated a share repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally 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 the stock in a transaction that occurred on 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 owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Trading of TJX Companies

Several institutional investors have recently added to or reduced their stakes in TJX. Norges Bank purchased a new stake in shares of TJX Companies in the 4th quarter valued at $1,193,438,000. FMR LLC grew its position 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 valued at $4,622,514,000 after acquiring an additional 6,036,764 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in TJX Companies by 35.9% during the first 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 purchasing an additional 3,255,849 shares during the period. Schroder Investment Management Group lifted its position in shares of TJX Companies by 350.9% during the third 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 purchasing an additional 1,617,367 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of TJX Companies by 225.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,137,256 shares of the apparel and home fashions retailer’s stock valued at $189,959,000 after purchasing an additional 1,480,837 shares during the period. Institutional investors and hedge funds 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.