TJX Companies Inc (NYSE:TJX) – Equities research analysts at Northcoast Research lifted their Q2 2020 earnings per share (EPS) estimates for TJX Companies in a note issued to investors on Wednesday, May 22nd, Zacks Investment Research reports. Northcoast Research analyst T. Vierengel now forecasts that the apparel and home fashions retailer will post earnings per share of $0.62 for the quarter, up from their previous forecast of $0.60. Northcoast Research also issued estimates for TJX Companies’ Q4 2020 earnings at $0.76 EPS, Q1 2021 earnings at $0.64 EPS and Q4 2021 earnings at $0.84 EPS.
TJX Companies (NYSE:TJX) last released its quarterly earnings data on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. TJX Companies had a net margin of 7.69% and a return on equity of 57.47%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same period last year, the business earned $1.13 earnings per share. TJX Companies’s revenue was up 6.8% compared to the same quarter last year.
Other analysts also recently issued research reports about the stock. Loop Capital boosted their price objective on shares of TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. Telsey Advisory Group restated an “outperform” rating and set a $62.00 price objective (up previously from $56.00) on shares of TJX Companies in a research report on Thursday, February 28th. MKM Partners boosted their price objective on shares of TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. Morgan Stanley boosted their price objective on shares of TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Finally, Credit Suisse Group boosted their price objective on shares of TJX Companies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. TJX Companies has an average rating of “Buy” and a consensus target price of $56.46.
TJX Companies stock traded up $0.52 during trading on Thursday, reaching $53.34. The stock had a trading volume of 5,459,300 shares, compared to its average volume of 6,069,537. TJX Companies has a 52-week low of $41.49 and a 52-week high of $56.64. The company has a quick ratio of 0.46, a current ratio of 1.23 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $64.05 billion, a P/E ratio of 25.28, a P/E/G ratio of 1.82 and a beta of 0.72.
Several institutional investors have recently added to or reduced their stakes in TJX. BlackRock Inc. lifted its holdings in TJX Companies by 113.3% in the 4th quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock valued at $4,038,232,000 after purchasing an additional 47,939,993 shares in the last quarter. FMR LLC increased its stake in shares of TJX Companies by 4.0% during the 1st quarter. FMR LLC now owns 53,531,356 shares of the apparel and home fashions retailer’s stock valued at $2,848,403,000 after acquiring an additional 2,052,931 shares during the last quarter. Vanguard Group Inc increased its position in TJX Companies by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 49,232,312 shares of the apparel and home fashions retailer’s stock worth $5,515,004,000 after purchasing an additional 593,647 shares in the last quarter. Bank of New York Mellon Corp increased its position in TJX Companies by 77.9% during the 4th quarter. Bank of New York Mellon Corp now owns 33,050,653 shares of the apparel and home fashions retailer’s stock worth $1,478,686,000 after purchasing an additional 14,469,980 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in TJX Companies by 13,963.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,176,882 shares of the apparel and home fashions retailer’s stock worth $585,000 after purchasing an additional 25,990,744 shares in the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.
In other TJX Companies news, EVP Richard Sherr sold 1,480 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $51.35, for a total value of $75,998.00. Following the transaction, the executive vice president now directly owns 117,228 shares of the company’s stock, valued at approximately $6,019,657.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David T. Ching sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $52.20, for a total transaction of $1,044,000.00. Following the completion of the sale, the director now owns 28,771 shares in the company, valued at $1,501,846.20. The disclosure for this sale can be found here. Insiders sold a total of 129,978 shares of company stock worth $7,001,230 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.72%. TJX Companies’s payout ratio is 43.60%.
TJX Companies announced that its board has initiated a share buyback program on Wednesday, February 27th that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the apparel and home fashions retailer to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
About TJX Companies
The TJX Companies, Inc 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; footwear; and other merchandise.
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