TJX Companies Inc (NYSE:TJX) – Stock analysts at Jefferies Group raised their FY2019 EPS estimates for shares of TJX Companies in a report released on Wednesday, Zacks Investment Research reports. Jefferies Group analyst R. Konik now anticipates that the apparel and home fashions retailer will earn $4.76 per share for the year, up from their prior forecast of $4.15.
TJX Companies (NYSE:TJX) last issued its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.27 by $0.10. TJX Companies had a net margin of 7.27% and a return on equity of 55.23%. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the previous year, the business earned $1.03 earnings per share. TJX Companies’s revenue for the quarter was up 15.8% compared to the same quarter last year.
Several other analysts also recently issued reports on the company. Credit Suisse Group began coverage on TJX Companies in a report on Monday. They set a “neutral” rating and a $85.00 price objective on the stock. Loop Capital began coverage on TJX Companies in a report on Thursday, March 8th. They set a “hold” rating and a $84.00 price objective on the stock. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a report on Monday, March 5th. Northcoast Research set a $90.00 price objective on TJX Companies and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, Morgan Stanley boosted their price objective on TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $87.30.
TJX Companies (TJX) traded down $0.42 during midday trading on Monday, reaching $81.88. The company’s stock had a trading volume of 4,086,011 shares, compared to its average volume of 4,680,050. The company has a current ratio of 1.66, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The firm has a market cap of $52,145.99, a P/E ratio of 20.27, a PEG ratio of 1.64 and a beta of 0.68. TJX Companies has a 12-month low of $66.44 and a 12-month high of $84.79.
TJX Companies announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 28th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, Chairman Carol Meyrowitz sold 43,020 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $83.77, for a total value of $3,603,785.40. Following the completion of the sale, the chairman now owns 294,098 shares of the company’s stock, valued at approximately $24,636,589.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ernie Herrman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were 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. In the last ninety days, insiders have sold 65,020 shares of company stock worth $5,446,635. Company insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CCM Investment Advisers LLC grew its stake in shares of TJX Companies by 1,393.0% in the 4th quarter. CCM Investment Advisers LLC now owns 59,466 shares of the apparel and home fashions retailer’s stock valued at $4,546,000 after buying an additional 55,483 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of TJX Companies by 5.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 117,337 shares of the apparel and home fashions retailer’s stock valued at $8,972,000 after buying an additional 6,417 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of TJX Companies by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 378,996 shares of the apparel and home fashions retailer’s stock valued at $28,977,000 after buying an additional 13,867 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of TJX Companies by 5.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 369,684 shares of the apparel and home fashions retailer’s stock valued at $28,266,000 after buying an additional 19,511 shares in the last quarter. Finally, Griffin Asset Management Inc. grew its stake in shares of TJX Companies by 58.8% in the 4th quarter. Griffin Asset Management Inc. now owns 70,730 shares of the apparel and home fashions retailer’s stock valued at $5,408,000 after buying an additional 26,179 shares in the last quarter. 91.07% of the stock is owned by institutional investors and hedge funds.
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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