TJX Companies (NYSE:TJX) had its target price boosted by Credit Suisse Group from $55.00 to $56.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the apparel and home fashions retailer’s stock.
Several other brokerages also recently issued reports on TJX. Zacks Investment Research raised TJX Companies from a hold rating to a buy rating and set a $61.00 target price on the stock in a research note on Wednesday, May 1st. Argus lifted their price objective on TJX Companies to $62.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Robert W. Baird initiated coverage on TJX Companies in a research note on Monday, May 13th. They issued an outperform rating and a $63.00 price objective on the stock. Nomura lifted their price objective on TJX Companies from $55.00 to $57.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Loop Capital lifted their price objective on TJX Companies from $47.00 to $50.00 and gave the stock a hold rating in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $55.90.
TJX stock opened at $51.62 on Wednesday. The stock has a market cap of $62.71 billion, a PE ratio of 24.46, a P/E/G ratio of 1.86 and a beta of 0.66. TJX Companies has a twelve month low of $41.49 and a twelve month high of $56.64. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.70 and a current ratio of 1.23.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.92 annualized dividend and a dividend yield of 1.78%. This is an increase from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s payout ratio is currently 43.60%.
TJX Companies declared that its board has authorized a stock buyback plan on Wednesday, February 27th that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In related news, Director Amy B. Lane sold 1,000 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $51.79, for a total transaction of $51,790.00. Following the completion of the transaction, the director now owns 31,092 shares in the company, valued at approximately $1,610,254.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Canestrari sold 25,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $54.97, for a total value of $1,374,250.00. Following the transaction, the executive vice president now owns 134,675 shares of the company’s stock, valued at approximately $7,403,084.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,978 shares of company stock worth $6,009,020. Corporate insiders own 0.18% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Washington Trust Bank boosted its holdings in TJX Companies by 2.1% during the 1st quarter. Washington Trust Bank now owns 9,246 shares of the apparel and home fashions retailer’s stock valued at $492,000 after acquiring an additional 190 shares during the period. Glassman Wealth Services boosted its holdings in TJX Companies by 9.7% during the 1st quarter. Glassman Wealth Services now owns 2,140 shares of the apparel and home fashions retailer’s stock valued at $114,000 after acquiring an additional 190 shares during the period. HighPoint Advisor Group LLC boosted its holdings in TJX Companies by 2.6% during the 1st quarter. HighPoint Advisor Group LLC now owns 8,544 shares of the apparel and home fashions retailer’s stock valued at $456,000 after acquiring an additional 220 shares during the period. First Allied Advisory Services Inc. boosted its holdings in TJX Companies by 1.3% during the 1st quarter. First Allied Advisory Services Inc. now owns 17,172 shares of the apparel and home fashions retailer’s stock valued at $912,000 after acquiring an additional 225 shares during the period. Finally, Webster Bank N. A. boosted its holdings in TJX Companies by 10.3% during the 1st quarter. Webster Bank N. A. now owns 2,446 shares of the apparel and home fashions retailer’s stock valued at $130,000 after acquiring an additional 228 shares during the period. Institutional investors own 90.14% of the company’s stock.
TJX Companies Company Profile
The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.
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