TJX Companies (NYSE:TJX) had its price objective hoisted by MKM Partners to $62.00 in a research note released on Thursday morning, The Fly reports.
Other equities research analysts have also recently issued reports about the stock. Loop Capital raised their price target on shares of TJX Companies from $47.00 to $50.00 and gave the stock a hold rating in a report on Wednesday, February 27th. Nomura lifted their price objective on shares of TJX Companies from $55.00 to $57.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Robert W. Baird assumed coverage on shares of TJX Companies in a report on Monday, May 13th. They set an outperform rating and a $63.00 price objective for the company. Zacks Investment Research upgraded shares of TJX Companies from a hold rating to a buy rating and set a $61.00 price objective for the company in a report on Wednesday, May 1st. Finally, Credit Suisse Group lifted their price objective on shares of TJX Companies from $55.00 to $56.00 and gave the company a neutral rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. TJX Companies has an average rating of Buy and a consensus target price of $55.90.
NYSE:TJX opened at $51.62 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $62.71 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.86 and a beta of 0.66. TJX Companies has a 12 month low of $41.49 and a 12 month high of $56.64.
TJX Companies declared that its board has authorized a share repurchase plan on Wednesday, February 27th that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a dividend of $0.23 per share. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is presently 43.60%.
In related news, EVP Richard Sherr sold 1,480 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $51.35, for a total transaction of $75,998.00. Following the transaction, the executive vice president now directly owns 117,228 shares of the company’s stock, valued at $6,019,657.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Goldenberg sold 37,248 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.90, for a total transaction of $2,007,667.20. Following the transaction, the chief financial officer now directly owns 195,712 shares in the company, valued at $10,548,876.80. The disclosure for this sale can be found here. Insiders have sold 110,978 shares of company stock worth $6,009,020 over the last three months. 0.18% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stone House Investment Management LLC bought a new stake in TJX Companies in the first quarter worth about $25,000. CSU Producer Resources Inc. bought a new stake in TJX Companies in the first quarter worth about $27,000. Financial Gravity Wealth Inc. bought a new stake in TJX Companies in the first quarter worth about $30,000. Nalls Sherbakoff Group LLC bought a new stake in TJX Companies in the fourth quarter worth about $25,000. Finally, Adirondack Trust Co. raised its position in TJX Companies by 100.0% in the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock worth $26,000 after acquiring an additional 290 shares during the period. 90.14% of the stock is currently owned by institutional investors.
About TJX Companies
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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