TJX Companies (NYSE:TJX) Reaches New 52-Week High – Here’s What Happened

The TJX Companies, Inc. (NYSE:TJX) shares hit a new 52-week high on Wednesday . The company traded as high as $121.14 and last traded at $120.92, with a volume of 396297 shares changing hands. The stock had previously closed at $119.85.

Analyst Ratings Changes

TJX has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on TJX Companies from $116.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. TD Cowen raised their target price on TJX Companies from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Loop Capital upped their price target on shares of TJX Companies from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their price objective on shares of TJX Companies from $113.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley boosted their price objective on shares of TJX Companies from $122.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.76.

TJX Companies Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.21 and a quick ratio of 0.60. The stock has a market capitalization of $137.21 billion, a P/E ratio of 29.30, a PEG ratio of 3.03 and a beta of 0.89. The stock’s fifty day moving average is $116.13 and its two-hundred day moving average is $111.14.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. TJX Companies had a return on equity of 63.19% and a net margin of 8.56%. The business had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.31 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts predict that The TJX Companies, Inc. will post 4.14 earnings per share for the current fiscal year.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, November 14th. TJX Companies’s dividend payout ratio is 36.23%.

Insider Activity

In other news, CEO Ernie Herrman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $117.54, for a total value of $1,763,100.00. Following the sale, the chief executive officer now directly owns 536,148 shares in the company, valued at approximately $63,018,835.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TJX Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. grew its stake in shares of TJX Companies by 12.4% during the third quarter. First Trust Direct Indexing L.P. now owns 47,104 shares of the apparel and home fashions retailer’s stock worth $5,537,000 after purchasing an additional 5,207 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in TJX Companies by 9.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 136,798 shares of the apparel and home fashions retailer’s stock valued at $13,874,000 after purchasing an additional 11,447 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of TJX Companies by 219.8% during the first quarter. Koshinski Asset Management Inc. now owns 13,579 shares of the apparel and home fashions retailer’s stock worth $1,377,000 after purchasing an additional 9,333 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of TJX Companies by 45.9% in the 2nd quarter. Swedbank AB now owns 1,041,982 shares of the apparel and home fashions retailer’s stock valued at $114,722,000 after buying an additional 327,684 shares during the period. 91.09% of the stock is owned by institutional investors and hedge funds.

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.