The TJX Companies, Inc. (NYSE:TJX) sees strong growth in short-term interest

TJX, Inc. companies (NYSE: TJXGet a rating) benefited from a significant increase in short-term interest in October. As of October 31, there was short interest totaling 11,260,000 shares, an increase of 17.5% from the total of 9,580,000 shares as of October 15. Based on an average daily trading volume of 5,120,000 shares, the short interest ratio is currently 2.2 days. Approximately 1.0% of the company’s shares are sold short.

Insider Trading in TJX Companies

In related news, EVP Louise Greenlee sold 8,822 shares of the company in a transaction dated Thursday, August 18. The stock was sold at an average price of $68.00, for a total value of $599,896.00. Following the sale, the executive vice president now directly owns 58,335 shares of the company, valued at $3,966,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In other news, the President Carole Meyrowitz sold 70,720 shares of the company in a transaction that took place on Thursday, August 18. The stock was sold at an average price of $67.62, for a total value of $4,782,086.40. Following the sale, the president now directly owns 264,967 shares of the company, valued at approximately $17,917,068.54. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, VPE Louise Greenlee sold 8,822 shares of the company in a transaction that took place on Thursday, August 18. The stock was sold at an average price of $68.00, for a total value of $599,896.00. Following the completion of the sale, the executive vice president now directly owns 58,335 shares of the company, valued at $3,966,780. Disclosure of this sale can be found here. During the last quarter, insiders sold 146,375 shares of the company worth $9,821,034. Insiders of the company own 0.19% of the shares of the company.

Institutional entries and exits

Several hedge funds have recently bought and sold shares of TJX. The Ontario Teachers’ Pension Plan Board bought a new position in TJX Companies in Q1 worth $408,331,000. FMR LLC increased its stake in TJX Companies by 22.0% in the second quarter. FMR LLC now owns 32,148,799 shares of the apparel and home fashion retailer worth $1,795,510,000 after purchasing an additional 5,804,572 shares during the period. 1832 Asset Management LP increased its holdings in TJX Companies by 141.0% in Q1. 1832 Asset Management LP now owns 8,130,500 shares of the clothing and home fashion retailer worth $485,794,000 after purchasing an additional 4,756,845 shares during the period. Capital International Investors increased its stake in TJX Companies by 67.8% in the 1st quarter. Capital International Investors now owns 10,700,425 shares of the clothing and home fashion retailer worth $648,232,000 after purchasing an additional 4,324,443 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in TJX Companies by 25.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,320,455 shares of the apparel and home fashion retailer worth $1,134,897,000 after purchasing an additional 4,081,241 shares during the period. Institutional investors hold 90.42% of the company’s shares.

Stock Performance of TJX Companies

Shares of TJX Stock traded at $2.70 in midday trading on Tuesday, hitting $75.76. 300,616 shares of the company were traded, compared to its average volume of 5,025,730. TJX Companies has a 12-month low of $53.69 and a 12-month high of $77.35. The company has a 50-day moving average price of $66.65 and a two-hundred-day moving average price of $62.99. The company has a debt ratio of 0.53, a quick ratio of 0.47 and a current ratio of 1.17. The company has a market capitalization of $87.96 billion, a PE ratio of 26.09, a growth price-earnings ratio of 2.26 and a beta of 0.90.

TJX Companies (NYSE: TJXGet a rating) last released its quarterly earnings data on Wednesday, August 17. The homewear and fashion retailer reported earnings per share (EPS) of $0.69 for the quarter, beating analyst consensus estimates of $0.67 by $0.02. TJX Companies had a net margin of 6.77% and a return on equity of 61.19%. The company posted revenue of $11.84 billion in the quarter, versus a consensus estimate of $12.05 billion. In the same quarter a year earlier, the company posted EPS of $0.79. The company’s revenue for the quarter decreased 1.9% compared to the same quarter last year. On average, research analysts expect TJX companies to post EPS of 3.11 for the current year.

TJX Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1. Shareholders of record on Thursday, November 10 will receive a dividend of $0.295 per share. This represents a dividend of $1.18 on an annualized basis and a dividend yield of 1.56%. The ex-date of this dividend is Wednesday, November 9. The payout ratio of TJX Companies is 42.14%.

Analyst upgrades and downgrades

A number of brokerages have recently commented on TJX. TheStreet upgraded TJX companies from a “c+” rating to a “b” rating in a Thursday, August 18 research report. Goldman Sachs Group began covering shares of TJX companies in a report on Tuesday, August 2. They issued a “neutral” rating and a price target of $70.00 for the company. StockNews.com began covering shares of TJX Companies in a report on Wednesday, October 12. They issued a “hold” rating for the company. Citigroup raised its price target on TJX Companies stock from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Friday. Finally, Robert W. Baird raised his price target on TJX Companies stock from $74.00 to $77.00 and gave the stock an “outperform” rating in a Thursday, Aug. 18, report. Five equity research analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.22.

Company Profile TJX Companies

(Get a rating)

The TJX Companies, Inc., together with its subsidiaries, operates as a low-cost home fashion and apparel retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. The company sells family clothing, including shoes and accessories; home fashion items, such as home staples, furniture, rugs, lighting products, gift items, home products, decorative accessories, table tops and kitchen utensils, as well as expanded departments for pets, children and gourmet foods; jewelry and accessories; and other goods.

Further reading

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider TJX companies, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market spreads…and that TJX Companies didn’t make the list.

Although TJX Companies currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here