Sallie Mae
This company is a niche finance company that always has demand. SLM Corp. (NASDAQ: SLM), better known as Sallie Mae, originates and services private education loans to students and their families to finance the cost of their education in the United States.
It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts and high-yield savings accounts, as well as omnibus accounts and credit card loans. It serves students and families through financial aid, federal loans and student and family resources.
The company posted strong second-quarter results that topped both earnings and revenue estimates. Private education loan originations increased 16% year over year, and SLM also completed $2.1 billion in private education loan sales during the quarter that resulted in a $240 million gain.
Shareholders receive a 2.31% dividend. The Jefferies target price is $24. The consensus target is $20.21, and SLM stock closed at $14.96 on Monday.
TJX
The Jefferies team loves this off-price bargain retailer. TJX Companies Inc. (NYSE: TJX) operates as an off-price apparel and home fashions retailer. It sells family apparel, including footwear and accessories, and home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop and cookware, as well as expanded pet, kids and gourmet food departments. It also offers fine jewelry and accessories, as well as other merchandise.
As of February 23, 2022, it operated 1,284 T.J. Maxx, 1,148 Marshalls, 850 HomeGoods, 59 Sierra and 39 HomeSense stores (as well as websites) in the United States. It also operated 293 Winners, 147 HomeSense and 106 Marshalls stores in Canada; 618 T.K. Maxx and 77 Homesense stores in Europe; and 68 T.K. Maxx stores in Australia.
Investors receive a 1.67% dividend. The $90 Jefferies price target is well above the $76.48 consensus target for TJX Companies stock, as well as Monday’s close at $64.39.
While none of these stocks are likely to turn up on Reddit’s WallStreetBets stock bulletin boards, they are well suited for what could be a very ugly rest of the year. These companies should hold their ground much better in an inflationary and recessionary stretch like the one we are in now and likely will remain in for some time to come.
Originally posted at 24/7 Wall St.
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