Zacks Investment Research cut shares of TJX Companies, Inc. (The) (NYSE:TJX) from a buy rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “The TJX Companies posted second-quarter fiscal 2018 results, wherein both earnings and revenues exceeded expectations, driven by improved traffic and margin improvements, as well as higher market share. The company also raised its fiscal 2018 earnings guidance. We are impressed on the company’s brand enhancing initiative, aggressive store opening strategy and improving e-Commerce business. Though shares have been declining for the last several quarters, the stock has started rallying over the last one month in comparison to the industry’s growth. However, the company is facing disappointing comps growth of late. In the second quarter, though sales grew on the back of increase in comps and improved traffic, comps growth of 3% were lower than the 4% comps growth in the year-ago quarter. The company is also facing margin pressure due to higher payroll and pension related costs. Currency headwinds also remain a concern.”

Several other analysts have also issued reports on the stock. Royal Bank Of Canada reiterated an outperform rating and issued a $79.00 target price (down previously from $82.00) on shares of TJX Companies, Inc. (The) in a research report on Wednesday, May 17th. BMO Capital Markets reiterated a buy rating and issued a $85.00 target price on shares of TJX Companies, Inc. (The) in a research report on Thursday, June 8th. BidaskClub upgraded shares of TJX Companies, Inc. (The) from a strong sell rating to a sell rating in a research report on Wednesday, June 28th. Nomura reiterated a buy rating and issued a $84.00 target price on shares of TJX Companies, Inc. (The) in a research report on Wednesday, May 17th. Finally, Morgan Stanley upgraded shares of TJX Companies, Inc. (The) from an equal weight rating to an overweight rating and set a $86.00 target price on the stock in a research report on Wednesday, May 17th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $82.61.

Shares of TJX Companies, Inc. (NYSE:TJX) opened at 70.47 on Thursday. The stock has a market cap of $45.69 billion, a PE ratio of 19.95 and a beta of 0.77. TJX Companies, Inc. has a 52 week low of $66.65 and a 52 week high of $80.92. The firm has a 50-day moving average of $70.06 and a 200 day moving average of $74.80.

TJX Companies, Inc. (The) (NYSE:TJX) last announced its earnings results on Tuesday, August 15th. The apparel and home fashions retailer reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. TJX Companies, Inc. (The) had a net margin of 6.83% and a return on equity of 52.87%. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that TJX Companies, Inc. will post $3.92 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, August 8th. TJX Companies, Inc. (The)’s dividend payout ratio (DPR) is presently 35.41%.

In other TJX Companies, Inc. (The) news, EVP Kenneth Canestrari sold 4,000 shares of TJX Companies, Inc. (The) stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $75.80, for a total transaction of $303,200.00. Following the transaction, the executive vice president now directly owns 86,243 shares of the company’s stock, valued at $6,537,219.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC increased its position in shares of TJX Companies, Inc. (The) by 256.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,833 shares of the apparel and home fashions retailer’s stock worth $1,331,000 after buying an additional 12,105 shares during the period. Nisa Investment Advisors LLC increased its stake in TJX Companies, Inc. (The) by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 243,116 shares of the apparel and home fashions retailer’s stock worth $19,225,000 after buying an additional 1,846 shares during the period. Patten & Patten Inc. TN bought a new stake in TJX Companies, Inc. (The) during the first quarter worth about $1,791,000. Armstrong Henry H Associates Inc. increased its stake in TJX Companies, Inc. (The) by 6.2% in the first quarter. Armstrong Henry H Associates Inc. now owns 23,235 shares of the apparel and home fashions retailer’s stock worth $1,837,000 after buying an additional 1,350 shares during the period. Finally, Coastline Trust Co increased its stake in TJX Companies, Inc. (The) by 31.5% in the first quarter. Coastline Trust Co now owns 4,945 shares of the apparel and home fashions retailer’s stock worth $391,000 after buying an additional 1,185 shares during the period. 89.56% of the stock is currently owned by institutional investors.

TJX Companies, Inc. (The) 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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Analyst Recommendations for TJX Companies, Inc. (The) (NYSE:TJX)

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