Zacks Investment Research upgraded shares of TJX Companies (NYSE:TJX) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning. They currently have $88.00 target price on the apparel and home fashions retailer’s stock.
According to Zacks, “TJX Companies has been recording year-over-year growth in both top and bottom lines for a while now, thanks to robust consumer traffic and strength in merchandise margins. The company has been gaining from its focus on store expansions, e-commerce efforts, solid merchandise mix and other sales driving initiatives. Further, its strong merchandise margins reflect its focus on inventory management. Notably, these factors, which fuelled third-quarter results, have helped the company's stock gain 11.5% in the past six months. However, the industry rallied about 25.4% in the same time frame. Further, TJX Companies has been witnessing high wage costs for quite sometime now. Unfortunately, management expects this to linger and hurt earnings growth by 2% in fiscal 2018. Nevertheless, management stated that it began the fourth quarter on a strong note, with its solid inventory position keeping it well placed for the holiday season.”
Several other research analysts have also weighed in on the company. Nomura reiterated a buy rating and set a $87.00 target price (up from $75.00) on shares of TJX Companies in a report on Wednesday, January 17th. Wells Fargo & Co lowered TJX Companies from an outperform rating to a market perform rating and reduced their target price for the stock from $76.00 to $72.00 in a report on Wednesday, January 3rd. Guggenheim reiterated a buy rating and set a $86.00 target price on shares of TJX Companies in a report on Friday, December 15th. Cowen set a $88.00 target price on TJX Companies and gave the stock a buy rating in a report on Wednesday, December 13th. Finally, Goldman Sachs Group lowered TJX Companies from a conviction-buy rating to a buy rating and set a $79.00 target price on the stock. in a report on Tuesday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. TJX Companies has an average rating of Buy and an average target price of $82.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.61%. TJX Companies’s dividend payout ratio (DPR) is 33.78%.
Institutional investors have recently modified their holdings of the company. Scotia Capital Inc. lifted its holdings in shares of TJX Companies by 9.4% in the second quarter. Scotia Capital Inc. now owns 54,407 shares of the apparel and home fashions retailer’s stock valued at $3,926,000 after purchasing an additional 4,661 shares in the last quarter. Northern Capital Management LLC increased its position in shares of TJX Companies by 34.5% in the third quarter. Northern Capital Management LLC now owns 53,580 shares of the apparel and home fashions retailer’s stock valued at $3,950,000 after acquiring an additional 13,750 shares during the last quarter. Tillar Wenstrup Advisors LLC acquired a new stake in shares of TJX Companies in the third quarter valued at about $2,083,000. Gofen & Glossberg LLC IL increased its position in shares of TJX Companies by 7.9% in the second quarter. Gofen & Glossberg LLC IL now owns 38,532 shares of the apparel and home fashions retailer’s stock valued at $2,781,000 after acquiring an additional 2,835 shares during the last quarter. Finally, Curbstone Financial Management Corp increased its position in shares of TJX Companies by 100.0% in the third quarter. Curbstone Financial Management Corp now owns 34,872 shares of the apparel and home fashions retailer’s stock valued at $2,571,000 after acquiring an additional 17,436 shares during the last quarter. Institutional investors own 89.67% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TJX Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TJX Companies and related companies with MarketBeat.com's FREE daily email newsletter.