Credit Suisse Group assumed coverage on shares of TJX Companies (NYSE:TJX) in a research note released on Monday. The firm issued a neutral rating and a $85.00 price target on the apparel and home fashions retailer’s stock.
TJX has been the subject of a number of other reports. Wells Fargo & Co cut TJX Companies from an outperform rating to a market perform rating and decreased their price target for the company from $76.00 to $72.00 in a research note on Wednesday, January 3rd. Guggenheim reissued a buy rating and issued a $86.00 price objective on shares of TJX Companies in a report on Friday, December 15th. Zacks Investment Research lowered TJX Companies from a buy rating to a sell rating in a report on Monday, November 13th. Citigroup cut their price objective on TJX Companies from $88.00 to $81.00 and set a buy rating on the stock in a report on Wednesday, November 15th. Finally, Buckingham Research cut their price objective on TJX Companies from $85.00 to $82.00 and set a buy rating on the stock in a report on Wednesday, November 15th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $87.30.
Shares of TJX Companies (TJX) opened at $82.47 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.66 and a debt-to-equity ratio of 0.43. TJX Companies has a 12 month low of $66.44 and a 12 month high of $84.79. The company has a market capitalization of $52,150.00, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.65 and a beta of 0.67.
TJX Companies announced that its board has approved a stock repurchase program on Wednesday, February 28th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $82.81, for a total transaction of $82,810.00. Following the sale, the director now directly owns 15,998 shares of the company’s stock, valued at $1,324,794.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernie Herrman sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $84.00, for a total value of $840,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,020 shares of company stock worth $5,446,635. 0.23% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TJX. Stifel Financial Corp grew its holdings in TJX Companies by 9,096.8% during the third quarter. Stifel Financial Corp now owns 1,380,987 shares of the apparel and home fashions retailer’s stock worth $101,787,000 after acquiring an additional 1,365,971 shares during the period. Nordea Investment Management AB grew its holdings in TJX Companies by 327.6% during the third quarter. Nordea Investment Management AB now owns 1,769,307 shares of the apparel and home fashions retailer’s stock worth $130,451,000 after acquiring an additional 1,355,496 shares during the period. Renaissance Technologies LLC grew 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 acquiring an additional 1,154,700 shares during the period. Fiduciary Management Inc. WI grew its holdings in TJX Companies by 21.3% during the third quarter. Fiduciary Management Inc. WI now owns 5,660,160 shares of the apparel and home fashions retailer’s stock worth $417,324,000 after acquiring an additional 992,808 shares during the period. Finally, Vontobel Asset Management Inc. boosted its position in TJX Companies by 42.1% during the fourth quarter. Vontobel Asset Management Inc. now owns 3,309,652 shares of the apparel and home fashions retailer’s stock worth $259,225,000 after purchasing an additional 980,553 shares in the last quarter. 91.07% of the stock is currently owned by hedge funds and other institutional investors.
TJX Companies Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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