TrimTabs Asset Management LLC purchased a new position in shares of TJX Companies Inc (NYSE:TJX) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 25,110 shares of the apparel and home fashions retailer’s stock, valued at approximately $1,336,000.
Several other hedge funds have also modified their holdings of the stock. Washington Trust Bank grew its stake in TJX Companies by 2.1% during the 1st quarter. Washington Trust Bank now owns 9,246 shares of the apparel and home fashions retailer’s stock worth $492,000 after buying an additional 190 shares during the last quarter. Adirondack Trust Co. grew its stake in TJX Companies by 100.0% during the 4th quarter. Adirondack Trust Co. now owns 580 shares of the apparel and home fashions retailer’s stock worth $26,000 after buying an additional 290 shares during the last quarter. Westside Investment Management Inc. grew its stake in TJX Companies by 100.0% during the 4th quarter. Westside Investment Management Inc. now owns 600 shares of the apparel and home fashions retailer’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Edge Wealth Management LLC grew its stake in TJX Companies by 100.0% during the 4th quarter. Edge Wealth Management LLC now owns 650 shares of the apparel and home fashions retailer’s stock worth $29,000 after buying an additional 325 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. grew its stake in TJX Companies by 100.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 660 shares of the apparel and home fashions retailer’s stock worth $29,000 after buying an additional 330 shares during the last quarter. 89.88% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on TJX shares. ValuEngine upgraded TJX Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Monday, January 28th. Telsey Advisory Group upgraded TJX Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $56.00 in a research note on Thursday, January 31st. Loop Capital boosted their target price on TJX Companies from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, February 27th. Finally, MKM Partners boosted their target price on TJX Companies from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. TJX Companies currently has an average rating of “Buy” and an average price target of $55.34.
In other news, CFO Scott Goldenberg sold 37,248 shares of the business’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 completion of the transaction, the chief financial officer now owns 195,712 shares of the company’s stock, valued at approximately $10,548,876.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane sold 1,625 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $53.00, for a total value of $86,125.00. Following the completion of the transaction, the director now directly owns 29,467 shares of the company’s stock, valued at approximately $1,561,751. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,498 shares of company stock worth $4,558,772. Company insiders own 0.20% of the company’s stock.
TJX Companies stock opened at $53.97 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. The stock has a market cap of $65.45 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.90 and a beta of 0.66. TJX Companies Inc has a fifty-two week low of $40.47 and a fifty-two week high of $56.64.
TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.09). The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.01 billion. TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 EPS. On average, research analysts forecast that TJX Companies Inc will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, May 15th. This is an increase from TJX Companies’s previous quarterly dividend of $0.20. TJX Companies’s payout ratio is presently 36.97%.
TJX Companies declared that its board has authorized a share repurchase program on Wednesday, February 27th that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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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, 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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