TJX Companies (NYSE:TJX) Sets New 12-Month High – Time to Buy?

The TJX Companies, Inc. (NYSE:TJX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $121.14 and last traded at $120.92, with a volume of 396297 shares traded. The stock had previously closed at $119.85.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TJX. Telsey Advisory Group reissued an “outperform” rating and set a $134.00 price target on shares of TJX Companies in a research report on Wednesday. TD Cowen increased their price target on TJX Companies from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. StockNews.com raised TJX Companies from a “hold” rating to a “buy” rating in a research report on Sunday, September 15th. Evercore ISI upped their price objective on TJX Companies from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Bank of America upped their price objective on TJX Companies from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, TJX Companies has a consensus rating of “Moderate Buy” and an average price target of $127.12.

TJX Companies Price Performance

The company has a quick ratio of 0.60, a current ratio of 1.21 and a debt-to-equity ratio of 0.37. The company has a market cap of $135.24 billion, a PE ratio of 28.96, a P/E/G ratio of 3.06 and a beta of 0.89. The stock has a 50-day simple moving average of $116.21 and a 200 day simple moving average of $111.21.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. TJX Companies had a return on equity of 63.19% and a net margin of 8.56%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.31 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that The TJX Companies, Inc. will post 4.14 EPS for the current year.

TJX Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s payout ratio is currently 36.23%.

Insider Activity

In other news, CEO Ernie Herrman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $117.54, for a total transaction of $1,763,100.00. Following the completion of the transaction, the chief executive officer now directly owns 536,148 shares of the company’s stock, valued at approximately $63,018,835.92. This represents a 2.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On TJX Companies

A number of large investors have recently bought and sold shares of TJX. Hartford Funds Management Co LLC raised its position in TJX Companies by 0.5% in the third quarter. Hartford Funds Management Co LLC now owns 17,926 shares of the apparel and home fashions retailer’s stock valued at $2,107,000 after purchasing an additional 86 shares during the period. Stablepoint Partners LLC boosted its position in shares of TJX Companies by 0.3% during the third quarter. Stablepoint Partners LLC now owns 26,922 shares of the apparel and home fashions retailer’s stock worth $3,164,000 after buying an additional 89 shares during the period. Dearborn Partners LLC lifted its position in TJX Companies by 4.0% in the second quarter. Dearborn Partners LLC now owns 2,359 shares of the apparel and home fashions retailer’s stock worth $260,000 after purchasing an additional 90 shares during the period. Concorde Asset Management LLC lifted its position in TJX Companies by 2.8% in the second quarter. Concorde Asset Management LLC now owns 3,330 shares of the apparel and home fashions retailer’s stock worth $367,000 after purchasing an additional 90 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its position in TJX Companies by 3.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 2,706 shares of the apparel and home fashions retailer’s stock worth $318,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 91.09% of the company’s stock.

TJX Companies Company Profile

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.