TJX - The TJX Companies, Inc.
| Previous Close | 55.12 |
| Open | 54.97 |
| Bid | 54.92 x 1100 |
| Ask | 54.93 x 800 |
| Day's Range | 54.46 - 55.17 |
| 52 Week Range | 40.65 - 56.64 |
| Volume | 937,349 |
| Avg. Volume | 5,975,853 |
| Market Cap | 66.802B |
| Beta (3Y Monthly) | 0.86 |
| PE Ratio (TTM) | 22.63 |
| EPS (TTM) | 2.43 |
| Earnings Date | May 20, 2019 - May 24, 2019 |
| Forward Dividend & Yield | 0.78 (1.47%) |
| Ex-Dividend Date | 2019-05-15 |
| 1y Target Est | 56.38 |
- Simply Wall St.•3 days ago
What Are Analysts Saying About The TJX Companies, Inc.'s (NYSE:TJX) Long Term Outlook?
The latest earnings update The TJX Companies, Inc. (NYSE:TJX) released in February 2019 signalled that the business experienced a robust tailwind...
- Benzinga•5 days ago
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- InvestorPlace•14 days ago
Earnings Can End the Rally for Bed Bath & Beyond Stock
Bed Bath & Beyond (NASDAQ:BBBY) reports earnings on Wednesday morning -- and I'd be very nervous holding Bed Bath & Beyond stock ahead of that report. BBBY stock has soared of late, but earnings haven't been the driver.Source: Mike Mozart via FlickrRather, the big force of late behind BBBY stock has been an activist effort to replace the company's entire board. Certainly, Bed Bath & Beyond could use a change at the top: BBBY hit a 20-year low in December.But I wrote last month that the risk is that the activists simply are too late. Amazon.com (NASDAQ:AMZN) has been taking share for years, and that's not the only competitor the company has to worry about. TJX Companies (NYSE:TJX) continues to expand its HomeGoods concept. Other off-price retailers like Ross Stores (NASDAQ:ROST) and Burlington Stores (NYSE:BURL) have been targeting Bed Bath & Beyond's core categories as well.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIndeed, the run in BBBY -- which now has bounced 75% from its lows -- looks like it has gone a bit too far. And history suggests that earnings might be the catalyst to send the stock again heading in the wrong direction. Bed Bath & Beyond Earnings Look DangerousFrom one standpoint, expectations don't seem all that high for the fiscal fourth quarter report. Analysts are looking for EPS of $1.11, 25% below the $1.48 adjusted figure from Q4 FY17. (BBBY stock's fiscal years end roughly at the end of the following February.) That's in line with Bed Bath & Beyond guidance for roughly $2 per share for the full year, which implies $1.14 in Q4 EPS. Consensus revenue estimates project a decline of over 10%. * 10 Medical Marijuana Stocks to Cure Your Portfolio It's worth remembering, however, that last year's fourth quarter had a 14th week, which skewed both sales and profits. Guidance seems to suggest a low-single-digit decline in comparable sales. Given that the company cited a 5-cent benefit to EPS last year from the extra week, consensus is looking for about a 22% drop in adjusted EPS.It might sound like analysts and management are expecting a weak quarter. They are. But in the context of recent performance, expectations actually look somewhat high. Same-store sales are down 1% so far this year against a 1.7% decline the year before. Bed Bath & Beyond has a tougher comparison in Q4 -- just 0.5% -- and yet it seems like top-line expectations are about in line with the performance so far in fiscal 2018.It's on the earnings front that the projections look particularly aggressive. A 22% decline in earnings isn't good news. But, again, relative to YTD performance, it would be a notable improvement. Through the first nine months, earnings have fallen over 47%. Simply to meet expectations, Bed Bath & Beyond is going to have do better. BBBY Stock Is Dangerous After EarningsGiven the trend here, expecting improvement so soon seems risky. And history shows that BBBY stock can get hammered when it disappoints.Indeed, in a span of six quarters in 2017-18, BBBY stock dropped at least 12% after four of the reports. Most recently, BBBY fell 21% after Q2 earnings in September. A year ago, Q4 results led to a 20% decline. Earlier in FY17, the stock dropped 12% after Q1, and another 16% following Q2.In several cases, the problem was that Bed Bath & Beyond overpromised and then had to lower guidance. Given that Street analysts seem to believe guidance (roughly), BBBY stock is relying on management being right this time. That hardly seems like a bet worth taking. Are Activists Enough?What does change the case here -- perhaps -- is the presence of the activists. It's possible that even bad numbers could be seen as good news. A disappointing report only undercuts the case of management and increases the likelihood that the activists will win.And from here, it looks like the activists likely are going to win. Certainly the market believes that's the case: BBBY stock wouldn't have gained 22% on the news of the activist filing if the market figured existing management was staying on board.And so BBBY earnings look awfully dangerous. Expectations from a fundamental standpoint look reasonably high relative to recent performance. The stock has gained 75% in less than four months. The company has a history of disappointing. Perhaps most importantly, the focus is turning from hopes for new management to results from the same management investors are so excited about replacing.Another miss here would wipe out much of the optimism built up in recent weeks, as it might suggest that Bed Bath & Beyond has too many problems to fix quickly, if they can be fixed at all. It's going to take a big report to keep the rally going, and we just don't have enough evidence that this management team, and this company, are capable of generating those types of results.As of this writing, Vince Martin had no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Data Center Buys That Deliver Sizable Income * 7 High-Risk Stocks With Big Potential Rewards * 3 Marijuana Stocks to Watch as New York, New Jersey Delay Legalization Compare Brokers The post Earnings Can End the Rally for Bed Bath & Beyond Stock appeared first on InvestorPlace.
- Investopedia•14 days ago
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- Barrons.com•17 days ago
TJX and 2 Other Stocks That Hiked Their Dividends This Week
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- Zacks•17 days ago
Will TJX Companies (TJX) Continue to Ride on Sturdy Comps?
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- American City Business Journals•19 days ago
TJX closes in on GE as largest Mass.-based worldwide employer
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- GuruFocus.com•19 days ago
TJX Companies Inc (TJX) Files 10-K for the Fiscal Year Ended on January 31, 2019
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TJX Companies Enhances Shareholder Returns, Hikes Dividend
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- Business Wire•20 days ago
The TJX Companies, Inc. Announces 18% Increase in Common Stock Dividend
The TJX Companies, Inc. (TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced that its Board of Directors has raised the amount of its quarterly dividend by 18% from the last dividend paid. The Board declared a regular quarterly dividend in the amount of $.23 per share, payable June 6, 2019, to shareholders of record on May 16, 2019. Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved an 18% increase in our quarterly dividend.
- American City Business Journals•21 days ago
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- InvestorPlace•24 days ago
Activists Have a Long Road to Save Bed Bath & Beyond Stock
Investors in retailer Bed Bath & Beyond (NASDAQ:BBBY) have been waiting for years for any kind of good news. Bed Bath & Beyond stock has collapsed in recent years. BBBY stock touched a 20-year low in December, at which point it had lost more than 85% of its value in four years.Source: Mike Mozart via Flickr BBBY now has rallied 64% from those lows. A big chunk of the gains came on Tuesday, when the stock rose 22% thanks to news of an activist effort at the company. Funds Legion Partners Holdings, Macellum Advisors, and Ancora Advisors have teamed up with a plan to replace the entire 12-person BBBY board of directors -- as well as CEO Steven Temares. Given the huge amount of value destroyed here, the activists have a strong case. And the huge spike in Bed Bath & Beyond stock suggests that investors believe the proxy fight will succeed. Even if it does, however, there's a key question: is it too late to save Bed Bath & Beyond? Why Activists Targeted Bed Bath & Beyond StockIn their letter nominating 16 potential new directors, the BBBY activists make a compelling case. Simply put, Bed Bath & Beyond looks like a mess. Under Temares -- who will celebrate his 16th anniversary as CEO next week -- BBBY stock has declined some 58%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos The performance has been even worse of late with BBBY stock reflecting the deterioration in the business. In the last five years, gross margins have compressed from 39% to 34%. SG&A spend -- at a time when most brick-and-mortar retailers are managing costs carefully, if not outright cutting expenses -- has risen 27%. As a result, operating margins have collapsed from 14% to just 4%. Bed Bath & Beyond's own guidance suggests FY18 (ending February 2019) EPS of just $2, less than half the $4.58 achieved just two years ago.Specialty retailers admittedly are facing a tougher path at the moment. Home-focused sellers like The Container Store (NYSE:TCS), Kirkland's (NASDAQ:KIRK) and Pier 1 Imports (NYSE:PIR) have struggled in recent years. But the investor group details the seemingly incoherent strategy at work at Bed, Bath and Beyond specifically, as BBBY continues to buy smaller companies (7 acquisitions in 7 years) with little success, while lurching from plan to plan in an effort to reverse declining same-store sales trends.Despite those repeated failures, board and management compensation remain excessive. And the board has authorized a stunning $8 billion in share repurchases since 2011 -- at an average price of $59. BBBY now has a market capitalization of just $2.4 billion -- and trades at $17. Why the Activists Can Win the Fight -- and Save BBBY StockIt would appear the activists have a strong likelihood of success. They're showing how strong their beliefs are by looking to clean house -- rather than just add a director or two to "get a voice" in the boardroom. Management and the board combined own just 5.5% of the company, according to last year's proxy statement. Independent shareholders will decide this battle -- and it's hard to imagine too many of those shareholders favoring the incumbent management that sent the stock to a two-decade low.Should the activists win, there's a path toward improvement. For one, new management will have time. Bed Bath & Beyond has no debt due before 2024. That year, a $300 million bond needs to be repaid, but BBBY closed the third quarter with nearly $1 billion in cash. The next maturity is not until 2034, with most of the debt due ten years after that. The odds of bankruptcy seem remote.The other fundamental reason for optimism is the current 4% operating margins. It simply doesn't take that much in the way of improvement to materially boost earnings. The activists pledge to cut costs, and even a 4% reduction in SG&A would save about 1% of revenue, moving earnings higher by 25%.Add in a potential reversal of the seven-quarter streak of declining same-store sales, and profits can grow sharply, and quickly. The investor group targeted EPS above $5 "over the next few years," driven largely by margins that should double, or come close.Assign even a conservative EPS multiple, and BBBY stock triples from current levels. Faster-than-expected growth and/or proceeds from selling (or shutting down) the smaller acquired businesses could drive even more upside. The RisksThe key question here is just how much damage has been done and how long it will take to fix. BBBY has hemorrhaged market share in recent years to off-price retailers like TJX Companies (NYSE:TJX) and Ross Stores (NASDAQ:ROST), as well as online rivals including Amazon.com (NASDAQ:AMZN). Bed Bath & Beyond stores, as even the activists point out, feel like a jumbled mess. Those will require years of improvement and millions of dollars in capital spend to fix.While the balance sheet seems reasonably clean, BBBY management has committed to some $3 billion in operating leases as of the end of last fiscal year. Those leases could slow any plan to shrink the company's brick-and-mortar footprint or cost millions in termination fees.Broadly put, even new management won't be able to turn BBBY around in a matter of months. And while those improvements are being put in, sales may further decline and earnings may see more pressure. Even the big plans may not work out: Tuesday Morning (NASDAQ:TUES) stock soared earlier this decade on optimism toward an activist-led turnaround. That stock hit a post-crisis low in December.Meanwhile, the key pressures on retail will persist. As I noted last year in warning investors away from BBBY, there are two points to remember about the industry as a whole. The first is that results should be much better right now given a strong economy. If same-store sales are falling now, what happens when a recession inevitably hits?And the second is that even flat or +1% comps still generally suggest declining earnings, as inflation drives rent and labor costs higher. That's doubly true as online sales grow -- which generally are dilutive to margins. * 10 Tech Stocks That Transformed Their Business In that context, Bed Bath & Beyond has a long way to go simply to stabilize profits. And new management will have its work cut out for it. There's reason for hope -- but plenty of reasons for caution, too.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos * 4 Pot Stocks That Could Be Fizzling Out * 7 Mid-Cap Growth Stocks That Could Be the Next Amazon or Netflix Compare Brokers The post Activists Have a Long Road to Save Bed Bath & Beyond Stock appeared first on InvestorPlace.
- Insider Monkey•26 days ago
Were Hedge Funds Right About Buying The TJX Companies, Inc. (TJX) ?
Hedge funds are known to underperform the bull markets but that's not because they are terrible at stock picking. Hedge funds underperform because their net exposure in only 40-70% and they charge exorbitant fees. No one knows what the future holds and how market participants will react to the bountiful news that floods in each […]
Motley Fool•26 days agoWhy Bed Bath & Beyond Stock Soared 22% on Tuesday
Activist investors are looking to shake up the home furnishings retailer, but there's no easy fix for Bed Bath & Beyond's problems.
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