TJX Companies (TJX) Receives New Coverage from Analysts at UBS Group

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UBS Group assumed coverage on shares of TJX Companies (NYSE:TJX) in a report issued on Thursday morning, www.benzinga.com reports. The firm issued a sell rating and a $87.00 price objective on the apparel and home fashions retailer’s stock.

TJX has been the subject of a number of other reports. Nomura set a $87.00 target price on TJX Companies and gave the company a buy rating in a research note on Wednesday, February 28th. SunTrust Banks set a $98.00 target price on TJX Companies and gave the company a buy rating in a research note on Thursday, March 1st. Buckingham Research restated a buy rating and issued a $95.00 target price (up from $90.00) on shares of TJX Companies in a research note on Thursday, March 1st. BMO Capital Markets set a $94.00 target price on TJX Companies and gave the company a buy rating in a research note on Thursday, March 1st. Finally, Royal Bank of Canada set a $91.00 target price on TJX Companies and gave the company a buy rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $90.04.

TJX Companies opened at $96.29 on Thursday, Marketbeat.com reports. The stock has a market capitalization of $60.47 billion, a P/E ratio of 23.83, a PEG ratio of 1.88 and a beta of 0.67. TJX Companies has a one year low of $66.44 and a one year high of $96.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.69 and a quick ratio of 0.81.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Tuesday, May 22nd. The apparel and home fashions retailer reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. The business had revenue of $8.67 billion during the quarter, compared to the consensus estimate of $8.47 billion. TJX Companies had a return on equity of 56.91% and a net margin of 7.58%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. analysts predict that TJX Companies will post 4.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Stockholders of record on Thursday, August 16th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 1.62%. TJX Companies’s dividend payout ratio is presently 38.61%.

TJX Companies declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 28th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the apparel and home fashions retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, CFO Scott Goldenberg sold 16,344 shares of the business’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $83.01, for a total transaction of $1,356,715.44. Following the completion of the transaction, the chief financial officer now directly owns 86,024 shares in the company, valued at $7,140,852.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $88.05, for a total value of $44,025.00. Following the transaction, the director now owns 15,498 shares of the company’s stock, valued at $1,364,598.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,064 shares of company stock valued at $3,269,567. Insiders own 0.22% of the company’s stock.

A number of large investors have recently made changes to their positions in TJX. Summit Trail Advisors LLC raised its holdings in TJX Companies by 7,162.0% during the first quarter. Summit Trail Advisors LLC now owns 3,321,292 shares of the apparel and home fashions retailer’s stock worth $3,321,000 after purchasing an additional 3,275,557 shares in the last quarter. Millennium Management LLC raised its holdings in TJX Companies by 171.2% during the first quarter. Millennium Management LLC now owns 2,655,393 shares of the apparel and home fashions retailer’s stock worth $216,574,000 after purchasing an additional 1,676,204 shares in the last quarter. Renaissance Technologies LLC raised its holdings in TJX Companies by 406.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,438,900 shares of the apparel and home fashions retailer’s stock worth $110,018,000 after purchasing an additional 1,154,700 shares in the last quarter. Eaton Vance Management raised its holdings in TJX Companies by 49.7% during the first quarter. Eaton Vance Management now owns 2,923,959 shares of the apparel and home fashions retailer’s stock worth $238,478,000 after purchasing an additional 970,534 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in TJX Companies by 25.3% during the fourth quarter. TIAA CREF Investment Management LLC now owns 4,727,154 shares of the apparel and home fashions retailer’s stock worth $361,438,000 after purchasing an additional 952,987 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

About TJX Companies

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.

Analyst Recommendations for TJX Companies (NYSE:TJX)

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