Ferguson Wellman Capital Management Inc. lifted its position in shares of TJX Companies Inc (NYSE:TJX) by 18.4% in the first quarter, Holdings Channel reports. The fund owned 496,180 shares of the apparel and home fashions retailer’s stock after buying an additional 77,077 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in TJX Companies were worth $26,401,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC bought a new stake in TJX Companies in the fourth quarter valued at about $25,000. Adirondack Trust Co. increased its holdings in TJX Companies by 100.0% in the fourth quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock valued at $26,000 after purchasing an additional 290 shares during the last quarter. Westside Investment Management Inc. increased its holdings in TJX Companies by 100.0% in the fourth quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Edge Wealth Management LLC increased its holdings in TJX Companies by 100.0% in the fourth quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock valued at $29,000 after purchasing an additional 325 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. increased its holdings in TJX Companies by 100.0% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 660 shares of the apparel and home fashions retailer’s stock valued at $29,000 after purchasing an additional 330 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.
NYSE:TJX opened at $54.24 on Tuesday. TJX Companies Inc has a 1 year low of $40.65 and a 1 year high of $56.64. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $65.86 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.66.
TJX Companies (NYSE:TJX) last posted its earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.09). TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that TJX Companies Inc will post 2.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.70%. This is a boost from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s payout ratio is presently 36.97%.
TJX Companies declared that its board has authorized a stock repurchase program on Wednesday, February 27th that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the apparel and home fashions retailer to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
TJX has been the subject of a number of recent analyst reports. Loop Capital upped their price objective on TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. MKM Partners upped their price objective on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. Credit Suisse Group upped their price objective on TJX Companies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 28th. Finally, Cfra upgraded TJX Companies to a “buy” rating and set a $60.00 price objective for the company in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. TJX Companies presently has an average rating of “Buy” and a consensus price target of $55.34.
In other news, EVP Richard Sherr sold 43,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $54.08, for a total transaction of $2,325,440.00. Following the completion of the transaction, the executive vice president now directly owns 118,708 shares of the company’s stock, valued at $6,419,728.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Goldenberg sold 37,248 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.90, for a total value of $2,007,667.20. Following the transaction, the chief financial officer now directly owns 195,712 shares of the company’s stock, valued at $10,548,876.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,498 shares of company stock valued at $4,558,772. Insiders own 0.20% of the company’s stock.
TJX Companies Company Profile
The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.
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