The companies TJX, Inc. (NYSE: TJX – Get a rating) announced a quarterly dividend on Tuesday, June 7, RTT News reports. Investors of record on Thursday, August 11 will receive a dividend of 0.295 per share from the clothing and home fashion retailer on Thursday, September 1. This represents a dividend of $1.18 on an annualized basis and a dividend yield of 1.93%.
TJX Companies has increased its dividend by an average of 10.1% per year for the past three years and has increased its dividend every year for the past 1 years. TJX Companies has a dividend payout ratio of 36.9%, which means its dividend is sufficiently covered by earnings. Research analysts expect TJX Companies to earn $3.62 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.18 with a ratio of expected future payout of 32.6%.
Shares of TJX traded down $0.68 during trading hours on Tuesday, hitting $61.05. 6,706,063 shares were traded, against an average volume of 7,524,849. The company’s fifty-day moving average is $61.54 and its two-hundred-day moving average is $66.37. The company has a debt ratio of 0.60, a current ratio of 1.25 and a quick ratio of 0.55. The company has a market capitalization of $71.53 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.86 and a beta of 0.88. TJX Companies has a 12-month low of $53.69 and a 12-month high of $77.35.
TJX Companies (NYSE: TJX – Get a rating) last announced its quarterly results on Wednesday, May 18. The home apparel and fashion retailer reported earnings per share (EPS) of $0.68 for the quarter, beating analyst consensus estimates of $0.60 by $0.08. The company posted revenue of $11.41 billion in the quarter, versus a consensus estimate of $11.58 billion. TJX Companies posted a return on equity of 61.28% and a net margin of 6.69%. The company’s quarterly revenue increased by 13.1% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.44. As a group, equity research analysts expect TJX Companies to post earnings per share of $3.18 for the current fiscal year.
In related news, CFO Scott Goldenberg sold 30,000 shares in a trade on Thursday, May 19. The stock was sold at an average price of $62.03, for a total transaction of $1,860,900.00. Following the sale, the CFO now owns 119,127 shares of the company, valued at $7,389,447.81. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, VPE Kenneth Canestrari sold 35,827 shares in a trade on Thursday, May 19. The shares were sold at an average price of $61.04, for a total value of $2,186,880.08. Following the sale, the executive vice president now directly owns 160,899 shares of the company, valued at approximately $9,821,274.96. Disclosure of this sale can be found here. Insiders sold 112,824 shares of the company valued at $6,973,343 during the last quarter. 0.19% of the shares are currently held by insiders of the company.
Institutional investors and hedge funds have recently been buying and selling stocks. Morgan Stanley increased its stake in TJX Companies by 2.6% in the second quarter. Morgan Stanley now owns 8,778,073 shares of the clothing and home fashion retailer worth $591,818,000 after buying an additional 223,003 shares in the last quarter. The Ontario Teachers’ Pension Board acquired a new stake in TJX Companies in Q1 valued at approximately $408,331,000. Charles Schwab Investment Management Inc. increased its stake in TJX Companies by 2.1% in Q1. Charles Schwab Investment Management Inc. now owns 6,297,587 shares of the apparel and home fashion retailer worth $381,508,000 after purchasing an additional 131,561 shares in the last quarter. Capital World Investors increased its stake in TJX Companies by 11.2% in the 1st quarter. Capital World Investors now owns 5,030,874 shares of the clothing and home fashion retailer worth $304,770,000 after buying an additional 504,893 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in TJX Companies in Q1 worth approximately $116,429,000. 91.45% of the shares are currently held by institutional investors and hedge funds.
A number of stock analysts have recently released reports on the company. JPMorgan Chase & Co. lowered its price target on TJX companies from $81.00 to $76.00 in a Monday, May 16 report. Bank of America lowered its price target on TJX companies from $95.00 to $85.00 and set a “buy” rating for the company in a Thursday, February 24 report. Gordon Haskett cut his price target on TJX Companies from $81.00 to $78.00 and set a “buy” rating for the company in a Thursday, February 24 report. Sanford C. Bernstein assumed coverage for the TJX Companies in a Monday, March 14, report. They issued a “market performance” rating and a price target of $68.00 for the company. Finally, Truist Financial cut its price target on TJX companies from $88.00 to $82.00 in a Thursday, February 24 report. Three investment analysts gave the stock a hold rating and seventeen gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $77.60.
Company Profile TJX Companies (Get a rating)
The TJX Companies, Inc., together with its subsidiaries, operates as a low-cost home fashion and apparel retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. The company sells family clothing, including shoes and accessories; home fashion items, such as home staples, furniture, rugs, lighting products, giftware, home products, decorative accessories, table tops and kitchen utensils, as well as expanded departments for pets, children and gourmet foods; jewelry and accessories; and other goods.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in TJX companies right now?
Before you consider TJX companies, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and TJX Companies was not on the list.
Although TJX Companies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here