Royal Bank of Canada Analysts Give TJX Companies (TJX) a $91.00 Price Target
Royal Bank of Canada set a $91.00 price target on TJX Companies (NYSE:TJX) in a research report report published on Thursday morning. The firm currently has a buy rating on the apparel and home fashions retailer’s stock.
A number of other equities research analysts have also recently commented on TJX. Zacks Investment Research cut TJX Companies from a buy rating to a sell rating in a research note on Monday, November 13th. Wells Fargo & Co set a $76.00 price objective on TJX Companies and gave the company a buy rating in a research note on Tuesday, November 14th. Citigroup lowered their price objective on TJX Companies from $88.00 to $81.00 and set a buy rating on the stock in a research note on Wednesday, November 15th. BMO Capital Markets set a $85.00 price objective on TJX Companies and gave the company a buy rating in a research note on Wednesday, November 15th. Finally, Goldman Sachs Group set a $79.00 price objective on TJX Companies and gave the company a buy rating in a research note on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. TJX Companies presently has a consensus rating of Buy and a consensus price target of $86.89.
Shares of TJX Companies (NYSE TJX) opened at $83.65 on Thursday. The company has a market capitalization of $52,890.00, a price-to-earnings ratio of 19.36, a PEG ratio of 1.61 and a beta of 0.67. TJX Companies has a 52 week low of $66.44 and a 52 week high of $84.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.67 and a current ratio of 1.66.
TJX Companies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 28th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, February 14th. TJX Companies’s dividend payout ratio is presently 28.94%.
In other news, Director Amy B. Lane sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $82.81, for a total transaction of $82,810.00. Following the sale, the director now directly owns 15,998 shares in the company, valued at $1,324,794.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ernie Herrman sold 11,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $83.64, for a total value of $920,040.00. Following the sale, the chief executive officer now owns 454,821 shares in the company, valued at $38,041,228.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,020 shares of company stock worth $4,606,635. Company insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TJX. Zions Bancorporation increased its position in shares of TJX Companies by 185.9% during the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock valued at $100,000 after buying an additional 883 shares during the period. Farmers National Bank bought a new stake in shares of TJX Companies during the fourth quarter valued at about $106,000. Icon Wealth Partners LLC bought a new stake in shares of TJX Companies during the fourth quarter valued at about $109,000. Truewealth LLC bought a new stake in shares of TJX Companies during the fourth quarter valued at about $119,000. Finally, Assetmark Inc. grew its holdings in shares of TJX Companies by 50.3% during the fourth quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock worth $152,000 after purchasing an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.
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About TJX Companies
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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