TJX Companies (NYSE:TJX) Reaches New 12-Month High on Analyst Upgrade

The TJX Companies, Inc. (NYSE:TJX - Get Free Report)'s share price hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $130.00 to $132.00. TD Cowen currently has a buy rating on the stock. TJX Companies traded as high as $122.83 and last traded at $122.83, with a volume of 44029 shares. The stock had previously closed at $121.47.

Other research analysts have also recently issued research reports about the stock. Bank of America upped their price target on shares of TJX Companies from $115.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. StockNews.com upgraded TJX Companies from a "hold" rating to a "buy" rating in a report on Sunday, September 15th. Deutsche Bank Aktiengesellschaft boosted their target price on TJX Companies from $130.00 to $131.00 and gave the company a "buy" rating in a research note on Thursday. Barclays upped their price target on TJX Companies from $114.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Finally, UBS Group lifted their price objective on shares of TJX Companies from $134.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, TJX Companies currently has an average rating of "Moderate Buy" and an average target price of $129.47.

Insider Activity

In other TJX Companies news, CEO Ernie Herrman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total transaction of $1,763,100.00. Following the sale, the chief executive officer now directly owns 536,148 shares of the company's stock, valued at $63,018,835.92. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On TJX Companies

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of TJX Companies by 1.0% during the third quarter. State Street Corp now owns 47,556,435 shares of the apparel and home fashions retailer's stock valued at $5,589,783,000 after buying an additional 469,287 shares during the last quarter. Geode Capital Management LLC increased its stake in TJX Companies by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,857,584 shares of the apparel and home fashions retailer's stock valued at $2,795,121,000 after buying an additional 363,707 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of TJX Companies by 33.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,241,176 shares of the apparel and home fashions retailer's stock worth $1,347,934,000 after buying an additional 3,063,318 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of TJX Companies by 7.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,182,564 shares of the apparel and home fashions retailer's stock valued at $1,079,319,000 after acquiring an additional 643,833 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of TJX Companies by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,265,171 shares of the apparel and home fashions retailer's stock valued at $689,812,000 after acquiring an additional 662,681 shares during the last quarter. Institutional investors own 91.09% of the company's stock.

TJX Companies Stock Up 2.8 %

The stock has a fifty day moving average of $116.52 and a 200 day moving average of $112.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50. The firm has a market capitalization of $140.80 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89.

TJX Companies (NYSE:TJX - Get Free Report) last released its earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.05. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The company had revenue of $14.06 billion for the quarter, compared to analysts' expectations of $13.95 billion. During the same period in the previous year, the business posted $1.03 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.50 dividend on an annualized basis and a yield of 1.20%. TJX Companies's payout ratio is 35.29%.

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.