TJX Companies (NYSE:TJX) Given a $65.00 Price Target by Bank of America Analysts

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Bank of America set a $65.00 price objective on TJX Companies (NYSE:TJX) in a report published on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the apparel and home fashions retailer’s stock.

A number of other equities analysts have also commented on TJX. Nomura boosted their price objective on TJX Companies from $57.00 to $60.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. Cowen set a $63.00 price objective on TJX Companies and gave the stock a buy rating in a research note on Tuesday, June 4th. Credit Suisse Group boosted their price objective on TJX Companies from $55.00 to $56.00 and gave the stock a neutral rating in a research note on Wednesday, May 22nd. Loop Capital raised TJX Companies from a hold rating to a buy rating and boosted their price objective for the stock from $50.00 to $60.00 in a research note on Friday, August 16th. Finally, Zacks Investment Research raised TJX Companies from a hold rating to a buy rating and set a $58.00 price objective on the stock in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $59.56.

TJX Companies stock opened at $54.88 on Wednesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.46 and a current ratio of 1.25. The firm has a market cap of $62.46 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.81 and a beta of 0.73. The business’s fifty day moving average is $53.94 and its two-hundred day moving average is $52.78. TJX Companies has a 52 week low of $41.49 and a 52 week high of $57.15.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Tuesday, August 20th. The apparel and home fashions retailer reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. The company had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.89 billion. TJX Companies had a return on equity of 57.64% and a net margin of 7.66%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, equities research analysts predict that TJX Companies will post 2.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, August 14th. TJX Companies’s dividend payout ratio (DPR) is presently 43.60%.

In other news, Director David T. Ching sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $52.20, for a total transaction of $1,044,000.00. Following the transaction, the director now owns 28,771 shares of the company’s stock, valued at $1,501,846.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TJX. Geode Capital Management LLC increased its holdings in TJX Companies by 115.8% in the fourth quarter. Geode Capital Management LLC now owns 17,734,026 shares of the apparel and home fashions retailer’s stock valued at $792,161,000 after purchasing an additional 9,515,682 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in TJX Companies by 1,753.1% in the second quarter. Nuveen Asset Management LLC now owns 6,448,008 shares of the apparel and home fashions retailer’s stock valued at $340,971,000 after purchasing an additional 6,100,049 shares during the last quarter. BlackRock Inc. increased its holdings in TJX Companies by 6.1% in the second quarter. BlackRock Inc. now owns 91,057,292 shares of the apparel and home fashions retailer’s stock valued at $4,815,108,000 after purchasing an additional 5,274,627 shares during the last quarter. FMR LLC increased its holdings in TJX Companies by 4.0% in the first quarter. FMR LLC now owns 53,531,356 shares of the apparel and home fashions retailer’s stock valued at $2,848,403,000 after purchasing an additional 2,052,931 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in TJX Companies by 3,058.2% in the second quarter. Renaissance Technologies LLC now owns 1,980,201 shares of the apparel and home fashions retailer’s stock valued at $104,713,000 after purchasing an additional 1,917,501 shares during the last quarter. Institutional investors and hedge funds own 89.45% of the company’s stock.

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.

See Also: How can investors find ex-dividend dates?

Analyst Recommendations for TJX Companies (NYSE:TJX)

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