TJX Companies (NYSE:TJX) Announces Quarterly Earnings Results

TJX Companies (NYSE:TJX) posted its earnings results on Wednesday. The apparel and home fashions retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04, MarketWatch Earnings reports. TJX Companies had a net margin of 7.85% and a return on equity of 62.67%. The business had revenue of $13.27 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year.

TJX Companies Trading Up 0.5 %

Shares of TJX stock traded up $0.47 during mid-day trading on Friday, reaching $88.84. The stock had a trading volume of 9,301,526 shares, compared to its average volume of 5,032,556. TJX Companies has a 52-week low of $72.92 and a 52-week high of $93.78. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $89.73 and its two-hundred day moving average price is $85.61. The firm has a market capitalization of $101.64 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.20 and a beta of 0.91.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 9th will be given a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, November 8th. TJX Companies’s payout ratio is 37.68%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of TJX Companies from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Robert W. Baird raised their price objective on shares of TJX Companies from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Telsey Advisory Group raised their price objective on shares of TJX Companies from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of TJX Companies from $99.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of TJX Companies from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.16.

Insider Activity at TJX Companies

In related news, EVP Kenneth Canestrari sold 4,197 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $90.00, for a total transaction of $377,730.00. Following the transaction, the executive vice president now owns 115,223 shares in the company, valued at $10,370,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kenneth Canestrari sold 4,197 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $90.00, for a total transaction of $377,730.00. Following the transaction, the executive vice president now owns 115,223 shares in the company, valued at $10,370,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Carol Meyrowitz sold 64,817 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $91.13, for a total transaction of $5,906,773.21. Following the transaction, the chairman now owns 135,050 shares in the company, valued at approximately $12,307,106.50. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TJX Companies

Several hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted 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 acquiring an additional 12,468,119 shares in the last quarter. Geode Capital Management LLC boosted its stake in TJX Companies by 1.0% during the first quarter. Geode Capital Management LLC now owns 20,891,507 shares of the apparel and home fashions retailer’s stock worth $1,632,900,000 after acquiring an additional 209,152 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in TJX Companies by 90,089.8% during 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 acquiring an additional 19,766,602 shares in the last quarter. Norges Bank bought a new stake in TJX Companies during the fourth quarter worth about $891,631,000. Finally, Macquarie Group Ltd. boosted its stake in TJX Companies by 2.8% during the second quarter. Macquarie Group Ltd. now owns 8,559,166 shares of the apparel and home fashions retailer’s stock worth $478,029,000 after acquiring an additional 235,690 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.

About TJX Companies

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.