TJX Companies (NYSE: TJX – Get a rating) updated its earnings guidance for fiscal year 2023 on Wednesday. share of $3.15. The company released a revenue forecast of -. TJX Companies also updated its guidance for Q2 2023 to $0.65 – $0.69 EPS.
Several research companies have recently weighed in on TJX. Robert W. Baird cut his price target on TJX companies from $78.00 to $74.00 and set an outperform rating for the company in a Thursday, May 19 research report. BMO Capital Markets cut its price target on TJX companies from $80.00 to $75.00 in a Thursday, February 24 research report. Bank of America cut 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 research report. Credit Suisse Group raised its price target on TJX companies from $73.00 to $75.00 and gave the stock an outperform rating in a Thursday, May 19 research report. Finally, TheStreet upgraded TJX companies from an ab to a c+ rating in a Wednesday, May 18 research report. Four equity research analysts gave the stock a hold rating and fifteen gave the company a buy rating. According to data from MarketBeat, the company currently has an average buy rating and consensus target price of $78.05.
TJX Company Stocks opened at $57.33 on Wednesday. The company has a debt ratio of 0.60, a current ratio of 1.25 and a quick ratio of 0.55. The stock has a fifty-day moving average price of $61.24 and a two-hundred-day moving average price of $65.93. TJX Companies has a 52-week low of $53.69 and a 52-week high of $77.35. The company has a market capitalization of $67.17 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.77 and a beta of 0.88.
TJX Companies (NYSE: TJX – Get a rating) last released its quarterly earnings data on Wednesday, May 18. The home apparel and fashion retailer reported earnings per share (EPS) of $0.68 for the quarter, beating the consensus estimate of $0.60 by $0.08. TJX Companies posted a return on equity of 61.28% and a net margin of 6.69%. The company posted revenue of $11.41 billion in the quarter, versus analyst estimates of $11.58 billion. In the same period a year earlier, the company posted earnings per share of $0.44. The company’s revenue for the quarter increased by 13.1% compared to the same quarter last year. On average, equity research analysts expect TJX companies to post EPS of 3.18 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1. Shareholders of record on Thursday August 11 will receive a dividend of $0.295. The ex-dividend date is Wednesday, August 10. This represents a dividend of $1.18 on an annualized basis and a dividend yield of 2.06%. TJX Companies’ dividend payout ratio (DPR) is currently 42.91%.
In related news, CFO Scott Goldenberg sold 30,000 shares of the company in a transaction dated Thursday, May 19. The stock was sold at an average price of $62.03, for a total value of $1,860,900.00. Following the transaction, the CFO now owns 119,127 shares of the company, valued at $7,389,447.81. The transaction was disclosed in an SEC filing, which is available via this hyperlink. Also, VPE Richard Sherr sold 46,997 shares of the company in a transaction dated Friday, June 3. The shares were sold at an average price of $62.25, for a total value of $2,925,563.25. Following the completion of the transaction, the executive vice president now owns 104,127 shares of the company, valued at approximately $6,481,905.75. Disclosure of this sale can be found here. Over the past 90 days, insiders have sold 112,824 shares of the company valued at $6,973,343. 0.19% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently changed their stakes in the company. Zullo Investment Group Inc. bought a new position in TJX Companies during the fourth quarter worth approximately $49,000. First Community Trust NA bought a new position in TJX Companies during the fourth quarter for a value of approximately $57,000. Fairfield Bush & CO. bought a new stock position in TJX Companies during Q1 worth about $68,000. Covestor Ltd increased its equity stake in TJX Companies by 80.5% during Q1. Covestor Ltd now owns 2,914 shares of the clothing and home fashion retailer valued at $177,000 after buying an additional 1,300 shares last quarter. Finally, KC Investment Advisors LLC bought a new stock position in TJX Companies during Q1 worth approximately $204,000. Hedge funds and other institutional investors hold 91.45% of the company’s shares.
About 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.
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