TJX Companies (NYSE:TJX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of TJX Companies (NYSE:TJX) from a buy rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also recently issued reports about the stock. Telsey Advisory Group restated an “outperform” rating and set a $134.00 price target on shares of TJX Companies in a report on Wednesday, November 20th. Morgan Stanley raised their target price on TJX Companies from $122.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. BMO Capital Markets upped their price target on TJX Companies from $116.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. UBS Group raised their price objective on shares of TJX Companies from $134.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their price target on shares of TJX Companies from $114.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.47.

TJX Companies Price Performance

TJX opened at $121.47 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. TJX Companies has a 1 year low of $87.44 and a 1 year high of $122.10. The stock has a fifty day moving average price of $116.52 and a 200 day moving average price of $112.51. The stock has a market cap of $137.00 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.05 and a beta of 0.89.

TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.95 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that TJX Companies will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 14th. TJX Companies’s payout ratio is 35.29%.

Insider Activity at TJX Companies

In related news, CEO Ernie Herrman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $117.54, for a total value of $1,763,100.00. Following the completion of the transaction, the chief executive officer now owns 536,148 shares in the company, valued at $63,018,835.92. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On TJX Companies

Several hedge funds and other institutional investors have recently made changes to their positions in TJX. Price T Rowe Associates Inc. MD grew its holdings in TJX Companies by 35.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,317,452 shares of the apparel and home fashions retailer’s stock worth $1,249,237,000 after acquiring an additional 3,255,849 shares during the period. PineStone Asset Management Inc. increased its holdings in TJX Companies by 134.2% in the second quarter. PineStone Asset Management Inc. now owns 5,467,797 shares of the apparel and home fashions retailer’s stock valued at $602,004,000 after purchasing an additional 3,132,960 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in TJX Companies by 33.4% in the second quarter. Ameriprise Financial Inc. now owns 12,241,176 shares of the apparel and home fashions retailer’s stock valued at $1,347,934,000 after buying an additional 3,063,318 shares during the period. Capital Wealth Planning LLC bought a new position in TJX Companies during the second quarter worth about $315,698,000. Finally, Los Angeles Capital Management LLC boosted its holdings in TJX Companies by 80.6% during the second quarter. Los Angeles Capital Management LLC now owns 2,943,176 shares of the apparel and home fashions retailer’s stock worth $324,044,000 after buying an additional 1,313,517 shares during the last quarter. 91.09% of the stock is owned by institutional investors and hedge funds.

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.