Robert W. Baird Begins Coverage on TJX Companies (TJX)
Robert W. Baird began coverage on shares of TJX Companies (NYSE:TJX) in a research note released on Monday morning, 24/7 WallStreet reports. The brokerage issued an outperform rating and a $63.00 price target on the apparel and home fashions retailer’s stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised TJX Companies from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Monday, January 28th. MKM Partners increased their price objective on TJX Companies from $58.00 to $61.00 and gave the company a buy rating in a report on Thursday, February 28th. Morgan Stanley increased their price objective on TJX Companies from $56.00 to $58.00 and gave the company an overweight rating in a report on Thursday, February 28th. Telsey Advisory Group reissued an outperform rating and set a $62.00 price objective (up previously from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. Finally, Loop Capital increased their price objective on TJX Companies from $47.00 to $50.00 and gave the company a hold rating in a report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $55.87.
TJX opened at $52.34 on Monday. TJX Companies has a fifty-two week low of $41.49 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.53 and a quick ratio of 0.70. The stock has a market cap of $63.75 billion, a PE ratio of 24.81, a PEG ratio of 1.84 and a beta of 0.66.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.76%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s dividend payout ratio (DPR) is 36.97%.
TJX Companies announced that its board has initiated a share buyback plan on Wednesday, February 27th that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the apparel and home fashions retailer to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other TJX Companies news, EVP Kenneth Canestrari sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $54.97, for a total value of $1,374,250.00. Following the sale, the executive vice president now owns 134,675 shares of the company’s stock, valued at approximately $7,403,084.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott Goldenberg sold 37,248 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.90, for a total value of $2,007,667.20. Following the completion of the sale, the chief financial officer now directly owns 195,712 shares in the company, valued at approximately $10,548,876.80. The disclosure for this sale can be found here. Insiders sold a total of 109,498 shares of company stock worth $5,933,022 in the last ninety days. Insiders own 0.18% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Hilltop Holdings Inc. lifted its position in shares of TJX Companies by 1.4% in the 1st quarter. Hilltop Holdings Inc. now owns 19,357 shares of the apparel and home fashions retailer’s stock worth $1,030,000 after acquiring an additional 274 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of TJX Companies by 7.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 256,406 shares of the apparel and home fashions retailer’s stock worth $13,642,000 after acquiring an additional 17,497 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of TJX Companies by 1,245.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 14,885 shares of the apparel and home fashions retailer’s stock worth $792,000 after acquiring an additional 13,779 shares during the period. Natixis Advisors L.P. lifted its position in shares of TJX Companies by 4.8% in the 1st quarter. Natixis Advisors L.P. now owns 414,307 shares of the apparel and home fashions retailer’s stock worth $22,045,000 after acquiring an additional 18,876 shares during the period. Finally, WealthStone Inc. bought a new stake in shares of TJX Companies in the 1st quarter worth approximately $88,000. Institutional investors own 91.42% of the company’s stock.
TJX Companies Company Profile
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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