TJX Companies (NYSE:TJX) Raised to Buy at Gordon Haskett

Gordon Haskett upgraded shares of TJX Companies (NYSE:TJXGet Rating) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has $80.00 target price on the apparel and home fashions retailer’s stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of TJX Companies from $77.00 to $80.00 and gave the stock an overweight rating in a research note on Tuesday, October 25th. William Blair reissued an outperform rating on shares of TJX Companies in a research report on Wednesday, August 17th. StockNews.com began coverage on shares of TJX Companies in a research report on Wednesday, October 12th. They issued a hold rating on the stock. Robert W. Baird increased their price objective on shares of TJX Companies from $74.00 to $77.00 and gave the company an outperform rating in a research report on Thursday, August 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TJX Companies from $71.00 to $80.00 in a research report on Friday, September 16th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $77.22.

TJX Companies Stock Performance

Shares of TJX stock opened at $73.90 on Thursday. The firm’s 50 day moving average price is $66.46 and its 200-day moving average price is $62.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.47 and a current ratio of 1.17. TJX Companies has a one year low of $53.69 and a one year high of $77.35. The firm has a market cap of $85.80 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.27 and a beta of 0.90.

TJX Companies (NYSE:TJXGet Rating) last announced its earnings results on Wednesday, August 17th. The apparel and home fashions retailer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. TJX Companies had a net margin of 6.77% and a return on equity of 61.19%. The firm had revenue of $11.84 billion for the quarter, compared to the consensus estimate of $12.05 billion. During the same period in the prior year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts predict that TJX Companies will post 3.11 EPS for the current year.

TJX Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 9th. TJX Companies’s dividend payout ratio is currently 42.14%.

Insider Buying and Selling

In other news, Chairman Carol Meyrowitz sold 70,720 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $67.62, for a total value of $4,782,086.40. Following the completion of the sale, the chairman now owns 264,967 shares in the company, valued at approximately $17,917,068.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Louise Greenlees sold 8,822 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $68.00, for a total value of $599,896.00. Following the completion of the sale, the executive vice president now owns 58,335 shares in the company, valued at approximately $3,966,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Carol Meyrowitz sold 70,720 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $67.62, for a total transaction of $4,782,086.40. Following the completion of the sale, the chairman now owns 264,967 shares of the company’s stock, valued at approximately $17,917,068.54. The disclosure for this sale can be found here. Insiders sold a total of 146,375 shares of company stock worth $9,821,034 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Institutional Trading of TJX Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Grayhawk Investment Strategies Inc. acquired a new stake in shares of TJX Companies in the second quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of TJX Companies in the third quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its stake in shares of TJX Companies by 119.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 452 shares of the apparel and home fashions retailer’s stock valued at $25,000 after purchasing an additional 246 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of TJX Companies by 117.7% in the second quarter. Financial Management Professionals Inc. now owns 468 shares of the apparel and home fashions retailer’s stock valued at $26,000 after purchasing an additional 253 shares during the period. Finally, Herold Advisors Inc. acquired a new stake in shares of TJX Companies in the first quarter valued at about $30,000. Institutional investors and hedge funds own 90.42% of the company’s stock.

About TJX Companies

(Get Rating)

The TJX Companies, Inc, together with its subsidiaries, 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, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; and other merchandise.

Further Reading

Analyst Recommendations for TJX Companies (NYSE:TJX)

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