First Allied Advisory Services Inc. raised its holdings in TJX Companies Inc (NYSE:TJX) by 1.3% in the first quarter, Holdings Channel reports. The fund owned 17,172 shares of the apparel and home fashions retailer’s stock after acquiring an additional 225 shares during the period. First Allied Advisory Services Inc.’s holdings in TJX Companies were worth $912,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nalls Sherbakoff Group LLC acquired a new position in shares of TJX Companies in the 4th quarter valued at about $25,000. Stone House Investment Management LLC acquired a new position in shares of TJX Companies in the 1st quarter valued at about $25,000. Adirondack Trust Co. increased its holdings in shares of TJX Companies by 100.0% in the 4th 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 period. Westside Investment Management Inc. increased its holdings in shares of TJX Companies by 100.0% in the 4th 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 period. Finally, CSU Producer Resources Inc. acquired a new position in shares of TJX Companies in the 1st quarter valued at about $27,000. 91.42% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on TJX. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a report on Tuesday. MKM Partners upped their target price on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 28th. Robert W. Baird began coverage on TJX Companies in a report on Monday, May 13th. They issued an “outperform” rating and a $63.00 target price on the stock. Morgan Stanley upped their target price on TJX Companies from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, February 28th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of TJX Companies in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.87.
NYSE:TJX opened at $53.26 on Wednesday. TJX Companies Inc has a 52 week low of $41.49 and a 52 week high of $56.64. The company has a market capitalization of $64.43 billion, a P/E ratio of 25.24, a PEG ratio of 1.86 and a beta of 0.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.53.
TJX Companies (NYSE:TJX) last released its quarterly earnings data on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. TJX Companies had a return on equity of 57.42% and a net margin of 7.85%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.21 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that TJX Companies Inc will post 2.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.73%. This is a boost from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s dividend payout ratio is presently 43.60%.
TJX Companies announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 27th that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other TJX Companies news, Director Amy B. Lane sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.79, for a total transaction of $51,790.00. Following the completion of the sale, the director now owns 31,092 shares of the company’s stock, valued at $1,610,254.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Canestrari sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $54.97, for a total value of $1,374,250.00. Following the sale, the executive vice president now directly owns 134,675 shares of the company’s stock, valued at approximately $7,403,084.75. The disclosure for this sale can be found here. Insiders have sold 109,498 shares of company stock valued at $5,933,022 in the last ninety days. Company insiders own 0.18% of the company’s stock.
About TJX Companies
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, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.
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