UBS Group Increases TJX Companies (NYSE:TJX) Price Target to $134.00

TJX Companies (NYSE:TJX) had its target price increased by UBS Group from $132.00 to $134.00 in a report published on Thursday, Benzinga reports. UBS Group currently has a buy rating on the apparel and home fashions retailer’s stock.

A number of other equities analysts have also weighed in on TJX. Evercore ISI set a $113.00 price objective on TJX Companies in a research note on Tuesday, May 21st. Robert W. Baird upped their price objective on shares of TJX Companies from $110.00 to $113.00 and gave the company an outperform rating in a report on Thursday. Telsey Advisory Group lifted their target price on shares of TJX Companies from $112.00 to $115.00 and gave the stock an outperform rating in a research note on Thursday. TD Cowen increased their price target on shares of TJX Companies from $119.00 to $120.00 and gave the company a buy rating in a research note on Friday, May 17th. Finally, The Goldman Sachs Group raised shares of TJX Companies from a neutral rating to a buy rating and lifted their price target for the company from $100.00 to $110.00 in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $110.05.

TJX Companies Stock Performance

NYSE TJX opened at $102.14 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.64. TJX Companies has a 1-year low of $75.65 and a 1-year high of $104.98. The company has a market cap of $115.72 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The stock’s 50 day simple moving average is $97.27 and its 200-day simple moving average is $95.15.

TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $12.48 billion during the quarter, compared to analysts’ expectations of $12.48 billion. TJX Companies had a net margin of 8.47% and a return on equity of 64.26%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. As a group, equities research analysts anticipate that TJX Companies will post 4.09 EPS for the current fiscal year.

TJX Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from TJX Companies’s previous quarterly dividend of $0.33. TJX Companies’s payout ratio is 37.22%.

TJX Companies declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 28th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at $51,053,982.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

Several large investors have recently bought and sold shares of TJX. Valued Wealth Advisors LLC boosted its position in shares of TJX Companies by 260.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 245 shares of the apparel and home fashions retailer’s stock worth $25,000 after acquiring an additional 177 shares in the last quarter. First Pacific Financial purchased a new stake in TJX Companies during the first quarter worth approximately $29,000. Frazier Financial Advisors LLC acquired a new position in TJX Companies in the fourth quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new position in TJX Companies in the fourth quarter valued at approximately $28,000. Finally, OFI Invest Asset Management acquired a new stake in TJX Companies during the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

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.