Credit Suisse Group Raises TJX Companies (NYSE:TJX) Price Target to $85.00

TJX Companies (NYSE:TJXGet Rating) had its price objective upped by Credit Suisse Group from $70.00 to $85.00 in a report issued on Thursday, The Fly reports. They currently have an outperform rating on the apparel and home fashions retailer’s stock.

Several other equities analysts also recently commented on TJX. StockNews.com assumed coverage on shares of TJX Companies in a research note on Wednesday, October 12th. They set a hold rating for the company. Citigroup increased their price target on shares of TJX Companies from $86.00 to $90.00 and gave the stock a buy rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of TJX Companies in a research note on Tuesday, August 2nd. They issued a neutral rating and a $70.00 price target for the company. Gordon Haskett raised shares of TJX Companies from a hold rating to a buy rating and set a $80.00 price target for the company in a research note on Thursday, November 10th. Finally, Barclays increased their price target on shares of TJX Companies from $72.00 to $76.00 and gave the stock an overweight rating in a research note on Friday, August 19th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $82.42.

TJX Companies Stock Performance

Shares of NYSE:TJX opened at $78.16 on Thursday. The company has a market cap of $90.75 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.90. The company has a 50-day moving average price of $67.62 and a 200-day moving average price of $63.42. The company has a current ratio of 1.16, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. TJX Companies has a 12 month low of $53.69 and a 12 month high of $79.99.

TJX Companies (NYSE:TJXGet Rating) last issued its quarterly earnings data on Wednesday, August 17th. The apparel and home fashions retailer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $11.84 billion during the quarter, compared to the consensus estimate of $12.05 billion. TJX Companies had a net margin of 6.90% and a return on equity of 62.97%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that TJX Companies will post 3.12 EPS for the current year.

TJX Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Wednesday, November 9th. TJX Companies’s payout ratio is 41.11%.

Insider Activity

In other news, CEO Ernie Herrman sold 50,282 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $65.90, for a total transaction of $3,313,583.80. Following the sale, the chief executive officer now owns 696,439 shares in the company, valued at $45,895,330.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Finance LLC lifted its position in TJX Companies by 5.8% during the second quarter. Empirical Finance LLC now owns 24,471 shares of the apparel and home fashions retailer’s stock valued at $1,367,000 after purchasing an additional 1,331 shares during the period. Kestra Private Wealth Services LLC lifted its position in TJX Companies by 5.4% during the first quarter. Kestra Private Wealth Services LLC now owns 20,234 shares of the apparel and home fashions retailer’s stock valued at $1,226,000 after purchasing an additional 1,036 shares during the period. Charter Oak Capital Management LLC bought a new position in TJX Companies during the second quarter valued at approximately $51,000. Hennion & Walsh Asset Management Inc. lifted its position in TJX Companies by 26.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 51,972 shares of the apparel and home fashions retailer’s stock valued at $2,903,000 after purchasing an additional 10,917 shares during the period. Finally, HB Wealth Management LLC lifted its position in TJX Companies by 57.9% during the second quarter. HB Wealth Management LLC now owns 15,942 shares of the apparel and home fashions retailer’s stock valued at $890,000 after purchasing an additional 5,843 shares during the period. Institutional investors own 90.42% of the company’s stock.

About TJX Companies

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The TJX Companies, Inc, together with its subsidiaries, 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; and other merchandise.

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