TJX Companies said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.33 per share ($1.33 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of May 10, 2023 to qualify for the dividend. Shareholders of record as of May 11, 2023 will receive the payment on June 1, 2023.
At the current share price of $76.55 / share, the stock's dividend yield is 1.74%. Looking back five years and taking a sample every week, the average dividend yield has been 1.63%, the lowest has been 1.38%, and the highest has been 2.50%. The standard deviation of yields is 0.17 (n=213).
The current dividend yield is 0.64 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.45%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 15.02% Upside
As of March 30, 2023, the average one-year price target for TJX Companies is $88.04. The forecasts range from a low of $68.68 to a high of $99.75. The average price target represents an increase of 15.02% from its latest reported closing price of $76.55.
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The projected annual revenue for TJX Companies is $49,969MM, an increase of 0.07%. The projected annual non-GAAP EPS is $3.14.
What is the Fund Sentiment?
There are 2859 funds or institutions reporting positions in TJX Companies. This is an increase of 199 owner(s) or 7.48% in the last quarter. Average portfolio weight of all funds dedicated to TJX is 0.58%, a decrease of 2.75%. Total shares owned by institutions increased in the last three months by 0.33% to 1,228,610K shares. The put/call ratio of TJX is 0.50, indicating a bullish outlook.
What are Large Shareholders Doing?
Wellington Management Group Llp holds 92,171K shares representing 7.98% ownership of the company. In it's prior filing, the firm reported owning 112,843K shares, representing a decrease of 22.43%. The firm decreased its portfolio allocation in TJX by 1.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 33,524K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 33,188K shares, representing an increase of 1.00%. The firm increased its portfolio allocation in TJX by 19.53% over the last quarter.
VDIGX - Vanguard Dividend Growth Fund Investor Shares holds 32,124K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 33,264K shares, representing a decrease of 3.55%. The firm increased its portfolio allocation in TJX by 15.54% over the last quarter.
Jpmorgan Chase & holds 29,646K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 25,034K shares, representing an increase of 15.56%. The firm increased its portfolio allocation in TJX by 39.30% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 26,841K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 26,557K shares, representing an increase of 1.06%. The firm increased its portfolio allocation in TJX by 19.31% over the last quarter.
TJX Companies Background Information
(This description is provided by the company.)
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of January 30, 2021, the end of the Company's fiscal year, the Company operated a total of 4,572 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and four e-commerce sites. These include 1,271 T.J. Maxx, 1,131 Marshalls, 821 HomeGoods, 48 Sierra, and 34 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 280 Winners, 143 HomeSense, and 102 Marshalls stores in Canada; 602 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 62 T.K. Maxx stores in Australia.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
