Traders Buy TJX Companies (TJX) on Weakness

Traders purchased shares of TJX Companies Inc (NYSE:TJX) on weakness during trading hours on Friday. $157.76 million flowed into the stock on the tick-up and $72.67 million flowed out of the stock on the tick-down, for a money net flow of $85.09 million into the stock. Of all stocks tracked, TJX Companies had the 21st highest net in-flow for the day. TJX Companies traded down ($0.65) for the day and closed at $109.49

A number of brokerages have recently weighed in on TJX. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Citigroup boosted their target price on TJX Companies from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Cowen set a $125.00 target price on TJX Companies and gave the stock a “buy” rating in a research note on Tuesday, September 25th. DA Davidson began coverage on TJX Companies in a research note on Tuesday, September 25th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Barclays began coverage on TJX Companies in a research note on Tuesday, September 11th. They issued an “equal weight” rating and a $117.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $108.12.

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 0.77. The company has a market cap of $67.75 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.04 and a beta of 0.65.

TJX Companies’s stock is scheduled to split before the market opens on Monday, November 5th. The 2-1 split was announced on Monday, September 17th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, November 6th.

TJX Companies (NYSE:TJX) last posted its earnings results on Tuesday, August 21st. The apparel and home fashions retailer reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.99 billion. TJX Companies had a return on equity of 58.66% and a net margin of 7.88%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. Analysts expect that TJX Companies Inc will post 4.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.56 annualized dividend and a dividend yield of 1.42%. TJX Companies’s dividend payout ratio is currently 38.61%.

Large investors have recently bought and sold shares of the business. Kiwi Wealth Investments Limited Partnership purchased a new stake in shares of TJX Companies during the second quarter worth $3,151,000. First Republic Investment Management Inc. lifted its position in shares of TJX Companies by 13.6% during the second quarter. First Republic Investment Management Inc. now owns 410,924 shares of the apparel and home fashions retailer’s stock worth $39,112,000 after acquiring an additional 49,203 shares in the last quarter. Iberiabank Corp lifted its position in shares of TJX Companies by 12.1% during the third quarter. Iberiabank Corp now owns 66,492 shares of the apparel and home fashions retailer’s stock worth $7,448,000 after acquiring an additional 7,191 shares in the last quarter. Pennsylvania Trust Co lifted its position in shares of TJX Companies by 4.9% during the third quarter. Pennsylvania Trust Co now owns 18,114 shares of the apparel and home fashions retailer’s stock worth $2,029,000 after acquiring an additional 850 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of TJX Companies by 2.3% during the third quarter. State of Alaska Department of Revenue now owns 141,768 shares of the apparel and home fashions retailer’s stock worth $15,879,000 after acquiring an additional 3,164 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

About TJX Companies (NYSE:TJX)

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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

Further Reading: Moving Average (MA)

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