Investors Buy Shares of TJX Companies (TJX) on Weakness

Traders bought shares of TJX Companies Inc (NYSE:TJX) on weakness during trading 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

TJX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Wednesday, July 18th. Cowen reissued a “buy” rating and set a $114.00 price target on shares of TJX Companies in a report on Tuesday, July 31st. Citigroup boosted their price target on TJX Companies from $96.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Deutsche Bank boosted their price target on TJX Companies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, August 20th. Finally, Buckingham Research boosted their price target on TJX Companies from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, August 20th. 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’s stock. The company currently 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 firm has a market capitalization of $68.17 billion, a PE ratio of 27.10, a PEG ratio of 2.06 and a beta of 0.71.

Shares of TJX Companies are going to split on the morning of Monday, November 5th. The 2-1 split was announced on Monday, September 17th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, November 6th.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 15th will be paid a $0.39 dividend. 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 payout ratio is 38.61%.

Hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. increased its stake in shares of TJX Companies by 280.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,114 shares of the apparel and home fashions retailer’s stock valued at $106,000 after buying an additional 821 shares during the period. Icon Wealth Partners LLC acquired a new stake in shares of TJX Companies in the second quarter valued at about $106,000. North Star Investment Management Corp. acquired a new stake in shares of TJX Companies in the second quarter valued at about $114,000. City Holding Co. acquired a new stake in shares of TJX Companies in the second quarter valued at about $114,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of TJX Companies in the third quarter valued at about $114,000. 90.05% of the stock is owned by institutional investors.

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.

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