Traders Buy TJX Companies (TJX) on Weakness
Traders purchased shares of TJX Companies Inc (NYSE:TJX) on weakness during trading hours on Wednesday. $88.31 million flowed into the stock on the tick-up and $57.98 million flowed out of the stock on the tick-down, for a money net flow of $30.33 million into the stock. Of all companies tracked, TJX Companies had the 23rd highest net in-flow for the day. TJX Companies traded down ($0.42) for the day and closed at $81.88
A number of research firms recently weighed in on TJX. Zacks Investment Research cut TJX Companies from a “buy” rating to a “hold” rating in a report on Monday, March 5th. Cowen set a $92.00 target price on TJX Companies and gave the company a “buy” rating in a report on Thursday, March 1st. Deutsche Bank increased their target price on TJX Companies from $86.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Credit Suisse Group assumed coverage on TJX Companies in a report on Monday. They set a “neutral” rating and a $85.00 target price on the stock. Finally, Nomura lowered their target price on TJX Companies from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $87.30.
The company has a debt-to-equity ratio of 0.43, a current ratio of 1.66 and a quick ratio of 0.84. The firm has a market cap of $51,770.00, a price-to-earnings ratio of 18.95, a PEG ratio of 1.64 and a beta of 0.67.
TJX Companies announced that its board has initiated a stock repurchase program on Wednesday, February 28th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction on 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 owns 15,998 shares in the company, valued at $1,324,794.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Carol Meyrowitz sold 43,020 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 294,098 shares in the company, valued at approximately $24,636,589.46. The disclosure for this sale can be found here. Insiders have sold 65,020 shares of company stock worth $5,446,635 in the last 90 days. Insiders own 0.23% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Zions Bancorporation raised its position in shares of TJX Companies by 185.9% in the 3rd quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock worth $100,000 after buying an additional 883 shares during the period. Farmers National Bank purchased a new position in shares of TJX Companies in the 4th quarter worth $106,000. Icon Wealth Partners LLC purchased a new position in shares of TJX Companies in the 4th quarter worth $109,000. Truewealth LLC purchased a new position in shares of TJX Companies in the 4th quarter worth $119,000. Finally, Assetmark Inc. raised its position in shares of TJX Companies by 50.3% in the 4th quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock worth $152,000 after buying an additional 664 shares during the period. Institutional investors and hedge funds own 91.07% of the company’s stock.
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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