The TJX Companies, Inc. (NYSE:TJX) Raises Dividend to $0.43 Per Share

The TJX Companies, Inc. (NYSE:TJX) declared a quarterly dividend on Tuesday, April 1st, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.425 per share by the apparel and home fashions retailer on Thursday, June 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 15th. This is a 13.3% increase from TJX Companies’s previous quarterly dividend of $0.38.

TJX Companies has increased its dividend payment by an average of 11.9% annually over the last three years. TJX Companies has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect TJX Companies to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 32.8%.

TJX Companies Stock Up 0.7 %

Shares of TJX stock traded up $0.88 on Tuesday, reaching $122.68. 4,781,854 shares of the company were exchanged, compared to its average volume of 5,204,289. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50. TJX Companies has a one year low of $92.35 and a one year high of $128.00. The company has a 50-day moving average of $121.61 and a 200-day moving average of $120.26. The company has a market cap of $137.92 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.75 and a beta of 0.96.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. The firm had revenue of $16.35 billion during the quarter, compared to analysts’ expectations of $16.24 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. Analysts anticipate that TJX Companies will post 4.18 earnings per share for the current year.

Insider Transactions at TJX Companies

In related news, Director Alan M. Bennett sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total transaction of $988,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernie Herrman sold 23,428 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the sale, the chief executive officer now directly owns 484,189 shares in the company, valued at $59,569,772.67. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TJX Companies stock. Revolve Wealth Partners LLC raised its holdings in shares of The TJX Companies, Inc. (NYSE:TJX) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,172 shares of the apparel and home fashions retailer’s stock after buying an additional 235 shares during the quarter. Revolve Wealth Partners LLC’s holdings in TJX Companies were worth $262,000 as of its most recent filing with the Securities & Exchange Commission. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TJX shares. Wells Fargo & Company increased their target price on shares of TJX Companies from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 10th. Barclays increased their price objective on shares of TJX Companies from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. UBS Group boosted their target price on TJX Companies from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. StockNews.com raised TJX Companies from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $145.00 price objective on shares of TJX Companies in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.06.

TJX Companies Company Profile

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.