Investors Sell The TJX Cos. (TJX) on Strength (TJX)
Traders sold shares of The TJX Cos. (NYSE:TJX) on strength during trading hours on Monday. $34.42 million flowed into the stock on the tick-up and $67.88 million flowed out of the stock on the tick-down, for a money net flow of $33.46 million out of the stock. Of all equities tracked, The TJX Cos. had the 0th highest net out-flow for the day. The TJX Cos. traded up $0.93 for the day and closed at $80.76
TJX has been the subject of several research analyst reports. Vetr upgraded The TJX Cos. from a “hold” rating to a “buy” rating and set a $81.58 price objective for the company in a report on Monday, March 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price objective on shares of The TJX Cos. in a report on Tuesday, May 17th. Deutsche Bank AG reiterated a “buy” rating and issued a $83.00 price objective on shares of The TJX Cos. in a report on Thursday, May 19th. Zacks Investment Research cut The TJX Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, April 5th. Finally, Miller Tabak initiated coverage on The TJX Cos. in a report on Friday, June 24th. They issued a “buy” rating and a $91.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $83.30.
The company has a market cap of $53.39 billion and a P/E ratio of 23.73. The firm’s 50-day moving average is $77.25 and its 200-day moving average is $75.09.
The TJX Cos. (NYSE:TJX) last issued its quarterly earnings results on Tuesday, May 17th. The apparel and home fashions retailer reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.29 billion. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts anticipate that The TJX Cos. will post $3.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Tuesday, August 9th.
In related news, Chairman Carol Meyrowitz sold 64,160 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $76.56, for a total transaction of $4,912,089.60. Following the sale, the chairman now owns 336,231 shares of the company’s stock, valued at $25,741,845.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jose B. Alvarez sold 1,158 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $76.51, for a total transaction of $88,598.58. Following the sale, the director now directly owns 700 shares in the company, valued at approximately $53,557. The disclosure for this sale can be found here.
A number of hedge funds recently added to or reduced their stakes in the company. CI Investments Inc. increased its stake in The TJX Cos. by 2.0% in the fourth quarter. CI Investments Inc. now owns 206,390 shares of the apparel and home fashions retailer’s stock worth $14,635,000 after buying an additional 4,100 shares in the last quarter. CI Global Investments Inc. bought a new stake in The TJX Cos. during the fourth quarter worth approximately $3,145,000. Intermede Investment Partners Ltd bought a new stake in The TJX Cos. during the fourth quarter worth approximately $23,842,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in The TJX Cos. by 8.3% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 188,900 shares of the apparel and home fashions retailer’s stock worth $13,395,000 after buying an additional 14,500 shares in the last quarter. Finally, Harfst & Associates Inc. increased its stake in The TJX Cos. by 1.3% in the fourth quarter. Harfst & Associates Inc. now owns 27,861 shares of the apparel and home fashions retailer’s stock worth $1,975,000 after buying an additional 350 shares in the last quarter.
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 are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.
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