TJX Companies (NYSE:TJX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of TJX Companies (NYSE:TJX - Free Report) from a buy rating to a hold rating in a research report released on Friday.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on TJX Companies from $115.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, January 10th. Telsey Advisory Group reissued an "outperform" rating and issued a $145.00 target price on shares of TJX Companies in a research note on Thursday, February 27th. Citigroup raised shares of TJX Companies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $128.00 to $140.00 in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of TJX Companies from $133.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of TJX Companies from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.76.

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TJX Companies Stock Down 2.8 %

NYSE:TJX traded down $3.51 during trading hours on Friday, reaching $121.92. 12,959,431 shares of the stock were exchanged, compared to its average volume of 5,267,163. The stock has a market cap of $137.06 billion, a PE ratio of 28.69, a PEG ratio of 2.75 and a beta of 0.96. TJX Companies has a twelve month low of $92.35 and a twelve month high of $128.26. The firm has a 50 day moving average of $121.70 and a 200 day moving average of $120.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.50.

TJX Companies (NYSE:TJX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.07. The business had revenue of $16.35 billion for the quarter, compared to analyst estimates of $16.24 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. On average, equities analysts expect that TJX Companies will post 4.18 earnings per share for the current year.

TJX Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.39%. This is a positive change from TJX Companies's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, May 15th. TJX Companies's dividend payout ratio is currently 35.21%.

Insider Buying and Selling

In related news, CEO Ernie Herrman sold 23,428 shares of TJX Companies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $123.03, for a total value of $2,882,346.84. Following the transaction, the chief executive officer now directly owns 484,189 shares of the company's stock, valued at $59,569,772.67. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan M. Bennett sold 8,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On TJX Companies

Several hedge funds have recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in TJX Companies by 1.7% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,987 shares of the apparel and home fashions retailer's stock worth $603,000 after purchasing an additional 84 shares during the last quarter. Nwam LLC lifted its holdings in shares of TJX Companies by 2.0% in the 4th quarter. Nwam LLC now owns 4,338 shares of the apparel and home fashions retailer's stock worth $524,000 after purchasing an additional 84 shares in the last quarter. One Charles Private Wealth Services LLC grew its holdings in shares of TJX Companies by 5.0% during the fourth quarter. One Charles Private Wealth Services LLC now owns 1,805 shares of the apparel and home fashions retailer's stock valued at $218,000 after buying an additional 86 shares during the last quarter. Hamilton Capital LLC boosted its stake in TJX Companies by 3.9% during the 3rd quarter. Hamilton Capital LLC now owns 2,413 shares of the apparel and home fashions retailer's stock valued at $273,000 after purchasing an additional 90 shares during the last quarter. Finally, Breakwater Capital Group boosted its position in shares of TJX Companies by 1.2% during the fourth quarter. Breakwater Capital Group now owns 7,696 shares of the apparel and home fashions retailer's stock valued at $930,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company's stock.

About TJX Companies

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.