Wells Fargo & Company Reduces TJX Companies (NYSE: TJX) to Equal Weight

TJX Companies (NYSE: TJX – Get a rating) was downgraded by investment analysts to Wells Fargo and company from an “overweight” rating to a “weighted” rating in a research report delivered to clients and investors on Tuesday, Fly reports.

Other equity research analysts have also recently released reports on the company. Morgan Stanley lowered its price target on TJX companies from $88.00 to $83.00 and set an “overweight” rating on the stock in a Thursday, Feb. 24 report. StockNews.com launched coverage on TJX companies in a research note on Thursday, March 31. They set a “buy” rating for the company. Truist Financial cut its price target on TJX companies from $88.00 to $82.00 in a Thursday, February 24 research report. Barclays cut its price target on TJX companies from $94.00 to $82.00 in a report on Friday. Finally, Robert W. Baird cut his price target on TJX companies from $88.00 to $78.00 in a Thursday, February 24 research report. Four investment analysts gave the stock a hold rating and eighteen gave the company a buy rating. According to data from MarketBeat.com, TJX Companies has a consensus rating of “Buy” and an average price target of $79.05.

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Shares of TJX Companies opened at $62.07 on Tuesday. The stock’s 50-day moving average price is $65.04 and its 200-day moving average price is $68.21. The company has a market capitalization of $72.95 billion, a PE ratio of 22.99, a growth price-earnings ratio of 1.84 and a beta of 0.94. The company has a debt ratio of 0.56, a quick ratio of 0.70 and a current ratio of 1.27. TJX Companies has a one-year low of $57.92 and a one-year high of $77.35.

TJX Companies (NYSE: TJX – Get a rating) last released its quarterly earnings data on Wednesday, February 23. The home apparel and fashion retailer reported earnings per share (EPS) of $0.78 for the quarter, missing the consensus estimate of $0.90 per ($0.12). TJX Companies had a return on equity of 55.47% and a net margin of 6.76%. The company posted revenue of $13.85 billion for the quarter, versus $14.19 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $0.50. TJX Companies’ revenue for the quarter increased 26.6% compared to the same quarter last year. On average, analysts expect TJX Companies to post earnings per share of 3.15 for the current fiscal year.

Several hedge funds have recently increased or reduced their holdings in TJX. Lindbrook Capital LLC increased its position in TJX Companies by 8.0% in Q3. Lindbrook Capital LLC now owns 1,936 shares of the apparel and home fashion retailer valued at $128,000 after acquiring 143 additional shares last quarter. Manchester Capital Management LLC increased its stake in shares of TJX Companies by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 5,380 shares of the homewear and fashion retailer worth $408,000 after buying an additional 150 shares in the last quarter. Brighton Jones LLC increased its stake in TJX Companies by 2.3% in Q3. Brighton Jones LLC now owns 6,803 shares of the clothing and home fashion retailer valued at $449,000 after buying an additional 152 shares last quarter. TrinityPoint Wealth LLC increased its stake in TJX Companies by 0.5% in Q3. TrinityPoint Wealth LLC now owns 29,551 shares of the apparel and home fashion retailer valued at $1,950,000 after buying an additional 152 shares last quarter. Finally, Opal Wealth Advisors LLC increased its stake in TJX Companies by 3.4% in the third quarter. Opal Wealth Advisors LLC now owns 4,686 shares of the apparel and home fashion retailer valued at $309,000 after buying an additional 153 shares last quarter. 89.02% of the shares are currently held by institutional investors.

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, giftware, 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.

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