Zacks Investment Research upgraded shares of TJX Companies, Inc. (The) (NYSE:TJX) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $82.00 target price on the apparel and home fashions retailer’s stock.
According to Zacks, “After declining for the last few quarters, shares of TJX Companies have started improving since past three months owing to its aggressive store opening, brand enhancing initiatives and growing e-commerce business. Moreover higher store traffic has been aiding comps growth for the company since the past 33 quarters, even though the comps growth rate has been slowing down. As traditional retailers struggle in the face of changing consumer tastes and rising competition, TJX Companies has maintained its solid earnings trend and outpaced estimates for the last 11 quarters. We also observed that its top-line surpassed estimates in 9 out the last 11 quarters. The company also adheres to advertising and marketing campaigns to further drive its top-line. Nevertheless, TJX Companies has been facing margin pressure due to higher payroll and pension related costs. Also unfavorable foreign currency translations remain a concern.”
A number of other research firms have also weighed in on TJX. BidaskClub raised TJX Companies, Inc. (The) from a strong sell rating to a sell rating in a research note on Wednesday, June 28th. Credit Suisse Group set a $72.00 price objective on TJX Companies, Inc. (The) and gave the stock a neutral rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada dropped their price objective on TJX Companies, Inc. (The) from $79.00 to $76.00 and set an outperform rating for the company in a research note on Wednesday, August 16th. Jefferies Group LLC reaffirmed a hold rating and issued a $75.00 price objective on shares of TJX Companies, Inc. (The) in a research note on Thursday, September 28th. Finally, Nomura set a $80.00 price objective on TJX Companies, Inc. (The) and gave the stock a buy rating in a research note on Wednesday, August 16th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $83.16.
Shares of TJX Companies, Inc. (TJX) opened at 71.78 on Tuesday. The company has a market cap of $45.67 billion, a P/E ratio of 20.32 and a beta of 0.78. TJX Companies, Inc. has a 12 month low of $66.66 and a 12 month high of $80.92. The stock’s 50 day moving average price is $72.90 and its 200-day moving average price is $73.51.
TJX Companies, Inc. (The) (NYSE:TJX) last released its quarterly earnings data on Tuesday, August 15th. The apparel and home fashions retailer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.29 billion. TJX Companies, Inc. (The) had a return on equity of 52.87% and a net margin of 6.83%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Equities research analysts expect that TJX Companies, Inc. will post $3.93 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, November 8th. TJX Companies, Inc. (The)’s payout ratio is presently 35.41%.
In other TJX Companies, Inc. (The) news, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $72.52, for a total transaction of $1,450,400.00. Following the sale, the chief executive officer now directly owns 480,821 shares in the company, valued at $34,869,138.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
A number of hedge funds have recently modified their holdings of TJX. TrimTabs Asset Management LLC raised its position in TJX Companies, Inc. (The) by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 1,411 shares of the apparel and home fashions retailer’s stock valued at $112,000 after purchasing an additional 664 shares during the period. Israel Discount Bank of New York purchased a new stake in shares of TJX Companies, Inc. (The) in the first quarter worth approximately $130,000. Jacobi Capital Management LLC raised its holdings in shares of TJX Companies, Inc. (The) by 12.9% in the first quarter. Jacobi Capital Management LLC now owns 1,748 shares of the apparel and home fashions retailer’s stock worth $133,000 after buying an additional 200 shares during the period. Lenox Wealth Management Inc. purchased a new stake in shares of TJX Companies, Inc. (The) in the second quarter worth approximately $141,000. Finally, Mosaic Family Wealth LLC raised its holdings in shares of TJX Companies, Inc. (The) by 7.2% in the second quarter. Mosaic Family Wealth LLC now owns 1,996 shares of the apparel and home fashions retailer’s stock worth $144,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.
TJX Companies, Inc. (The) Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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