StockNews.com Lowers TJX Companies (NYSE:TJX) to Hold

StockNews.com downgraded shares of TJX Companies (NYSE:TJX) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently issued reports on TJX. Deutsche Bank Aktiengesellschaft set a $114.00 price target on TJX Companies in a report on Tuesday, May 21st. Jefferies Financial Group raised their price target on TJX Companies from $130.00 to $140.00 and gave the company a buy rating in a report on Thursday, August 22nd. Telsey Advisory Group reissued an outperform rating and set a $128.00 target price on shares of TJX Companies in a report on Wednesday, August 21st. UBS Group lifted their target price on TJX Companies from $134.00 to $148.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Finally, Bank of America lifted their target price on TJX Companies from $115.00 to $135.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $126.76.

TJX Companies Stock Down 0.1 %

Shares of NYSE TJX opened at $117.27 on Thursday. The firm’s 50-day simple moving average is $112.92 and its 200 day simple moving average is $104.24. The company has a market cap of $132.53 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.96 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 1.21 and a debt-to-equity ratio of 0.37. TJX Companies has a 12-month low of $86.71 and a 12-month high of $121.13.

TJX Companies (NYSE:TJX) last released its earnings results on Wednesday, August 21st. The apparel and home fashions retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. TJX Companies had a net margin of 8.56% and a return on equity of 63.19%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.31 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that TJX Companies will post 4.15 earnings per share for the current fiscal year.

TJX Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 15th. TJX Companies’s payout ratio is 37.22%.

Hedge Funds Weigh In On TJX Companies

A number of institutional investors and hedge funds have recently modified their holdings of TJX. Dearborn Partners LLC lifted its holdings in shares of TJX Companies by 4.0% in the 2nd quarter. Dearborn Partners LLC now owns 2,359 shares of the apparel and home fashions retailer’s stock worth $260,000 after purchasing an additional 90 shares in the last quarter. Concorde Asset Management LLC lifted its holdings in shares of TJX Companies by 2.8% in the 2nd quarter. Concorde Asset Management LLC now owns 3,330 shares of the apparel and home fashions retailer’s stock worth $367,000 after purchasing an additional 90 shares in the last quarter. Wambolt & Associates LLC lifted its holdings in shares of TJX Companies by 1.4% in the 2nd quarter. Wambolt & Associates LLC now owns 6,791 shares of the apparel and home fashions retailer’s stock worth $751,000 after purchasing an additional 94 shares in the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of TJX Companies by 4.9% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,097 shares of the apparel and home fashions retailer’s stock worth $231,000 after purchasing an additional 97 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its position in TJX Companies by 4.8% in the 2nd quarter. Aprio Wealth Management LLC now owns 2,176 shares of the apparel and home fashions retailer’s stock valued at $240,000 after buying an additional 99 shares during the last quarter. 91.09% of the stock is currently owned by institutional investors.

TJX Companies Company Profile

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.