The TJX Companies, Inc. (NYSE:TJX) Declares Quarterly Dividend of $0.43

The TJX Companies, Inc. (NYSE:TJX - Get Free Report) announced a quarterly dividend on Tuesday, April 1st, Wall Street Journal reports. Investors of record on Thursday, May 15th will be given a dividend of 0.425 per share by the apparel and home fashions retailer on Thursday, June 5th. This represents a $1.70 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, May 15th. This is a 13.3% increase from TJX Companies's previous quarterly dividend of $0.38.

TJX Companies has raised its dividend payment by an average of 11.9% annually over the last three years. TJX Companies has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect TJX Companies to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 32.8%.

TJX Companies Stock Performance

TJX traded up $0.69 during trading on Thursday, hitting $125.62. The stock had a trading volume of 3,001,317 shares, compared to its average volume of 5,205,654. The firm has a market cap of $141.21 billion, a PE ratio of 29.51, a P/E/G ratio of 2.75 and a beta of 0.96. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. TJX Companies has a 12 month low of $92.35 and a 12 month high of $128.00. The company has a 50 day simple moving average of $121.65 and a 200-day simple moving average of $120.31.

TJX Companies (NYSE:TJX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.07. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business had revenue of $16.35 billion for the quarter, compared to analyst estimates of $16.24 billion. Analysts expect that TJX Companies will post 4.18 EPS for the current year.

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Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TJX. StockNews.com upgraded shares of TJX Companies from a "hold" rating to a "buy" rating in a research note on Thursday, March 27th. Telsey Advisory Group restated an "outperform" rating and issued a $145.00 price target on shares of TJX Companies in a research report on Thursday, February 27th. Citigroup raised shares of TJX Companies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $128.00 to $140.00 in a research report on Thursday. Guggenheim lifted their target price on TJX Companies from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group upped their price target on TJX Companies from $140.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.76.

Insider Transactions at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 23,428 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the sale, the chief executive officer now directly owns 484,189 shares of the company's stock, valued at approximately $59,569,772.67. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan M. Bennett sold 8,000 shares of TJX Companies stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total transaction of $988,240.00. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On TJX Companies

An institutional investor recently raised its position in TJX Companies stock. Revolve Wealth Partners LLC grew its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,172 shares of the apparel and home fashions retailer's stock after acquiring an additional 235 shares during the period. Revolve Wealth Partners LLC's holdings in TJX Companies were worth $262,000 as of its most recent filing with the Securities and Exchange Commission. 91.09% of the stock is owned by institutional investors.

About TJX Companies

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.