The TJX Companies, Inc. (NYSE:TJX – Get Free Report) declared a quarterly dividend on Tuesday, November 28th, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.3325 per share by the apparel and home fashions retailer on Thursday, March 7th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, February 14th.
TJX Companies has raised its dividend by an average of 77.8% annually over the last three years and has increased its dividend every year for the last 2 years. TJX Companies has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TJX Companies to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 32.4%.
TJX Companies Trading Up 0.4 %
NYSE TJX opened at $98.75 on Monday. The company has a fifty day simple moving average of $93.45 and a two-hundred day simple moving average of $90.73. The stock has a market cap of $112.54 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.13 and a beta of 0.86. TJX Companies has a 12-month low of $72.92 and a 12-month high of $99.45. The company has a current ratio of 1.19, a quick ratio of 0.47 and a debt-to-equity ratio of 0.42.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of TJX Companies in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $105.00 price objective on the stock. Telsey Advisory Group increased their price objective on shares of TJX Companies from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. UBS Group increased their price objective on shares of TJX Companies from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Morgan Stanley raised their price target on shares of TJX Companies from $99.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, November 16th. Finally, Redburn Atlantic lowered shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and fourteen have given 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 $99.76.
In other news, CEO Ernie Herrman sold 35,907 shares of TJX Companies stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $89.29, for a total value of $3,206,136.03. Following the sale, the chief executive officer now owns 595,191 shares in the company, valued at $53,144,604.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On TJX Companies
Several hedge funds and other institutional investors have recently modified their holdings of TJX. Moneta Group Investment Advisors LLC lifted its stake in shares of TJX Companies by 90,089.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,788,543 shares of the apparel and home fashions retailer’s stock worth $1,575,168,000 after buying an additional 19,766,602 shares in the last quarter. Morgan Stanley raised its stake in TJX Companies by 88.1% during the fourth quarter. Morgan Stanley now owns 26,619,778 shares of the apparel and home fashions retailer’s stock worth $2,118,935,000 after purchasing an additional 12,468,119 shares during the period. Norges Bank purchased a new position in TJX Companies during the fourth quarter worth about $891,631,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of TJX Companies during the first quarter valued at about $408,331,000. Finally, First Trust Advisors LP increased its position in shares of TJX Companies by 1,316.8% during the first quarter. First Trust Advisors LP now owns 2,555,978 shares of the apparel and home fashions retailer’s stock valued at $200,286,000 after acquiring an additional 2,375,570 shares during the last quarter. 89.28% of the stock is owned by hedge funds and other institutional investors.
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.
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