Jim Cramer's Charity Trust Adds 100 TJX Shares, Boosts Stake to 1,050 After Jefferies Downgrade
Jim Cramer's charitable trust increased its TJX Companies stake by 100 shares to 1,050, following a Jefferies downgrade of the stock to Hold from Buy. The downgrade cited weakness in TJX's Marmaxx division, which operates T. J. Maxx and Marshalls stores. TJX shares fell on the news, extending losses after its latest quarterly report showed soft Marmaxx sales. Management attributed the weakness to temporary issues and said corrective measures were already showing improvement.
TJX Companies shares declined on Wednesday after Jefferies analysts downgraded the stock to Hold from Buy, citing weakness in the company's Marmaxx division, which includes T. J. Maxx and Marshalls stores.
The share decline followed the company's latest quarterly report, which showed soft sales in the Marmaxx division. TJX said the issues were temporary, that corrective measures were in place, and that improvement was already visible. Chief Executive Officer Herrman expressed confidence in returning Marmaxx to normal operating levels. The company's management is known for strong execution, and the CEO's direct involvement in the troubled division was viewed as a positive signal.