Stonebridge Capital Management Inc. Acquires 2,198 Shares of TJX Companies Inc (TJX)

Stonebridge Capital Management Inc. raised its holdings in TJX Companies Inc (NYSE:TJX) by 104.7% during the first quarter, Holdings Channel reports. The fund owned 4,298 shares of the apparel and home fashions retailer’s stock after purchasing an additional 2,198 shares during the period. Stonebridge Capital Management Inc.’s holdings in TJX Companies were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TJX. BlackRock Inc. boosted its stake in TJX Companies by 113.3% in the fourth quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock valued at $4,038,232,000 after acquiring an additional 47,939,993 shares during the last quarter. FMR LLC boosted its stake in TJX Companies by 106.0% in the fourth quarter. FMR LLC now owns 51,478,425 shares of the apparel and home fashions retailer’s stock valued at $2,303,144,000 after acquiring an additional 26,485,840 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in TJX Companies by 13,963.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,176,882 shares of the apparel and home fashions retailer’s stock valued at $585,000 after acquiring an additional 25,990,744 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in TJX Companies by 77.9% in the fourth quarter. Bank of New York Mellon Corp now owns 33,050,653 shares of the apparel and home fashions retailer’s stock valued at $1,478,686,000 after acquiring an additional 14,469,980 shares during the last quarter. Finally, Norges Bank bought a new position in TJX Companies in the fourth quarter valued at approximately $545,373,000. 91.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Kenneth Canestrari sold 25,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $54.97, for a total transaction of $1,374,250.00. Following the sale, the executive vice president now directly owns 134,675 shares in the company, valued at $7,403,084.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 31,092 shares in the company, valued at $1,610,254.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,498 shares of company stock worth $5,933,022. 0.18% of the stock is currently owned by company insiders.

TJX opened at $52.69 on Friday. 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 firm has a market capitalization of $63.58 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.84 and a beta of 0.66. TJX Companies Inc has a twelve month low of $41.49 and a twelve month high of $56.64.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.09). The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.01 billion. TJX Companies had a return on equity of 57.42% and a net margin of 7.85%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. Research analysts predict that TJX Companies Inc will post 2.61 earnings per share for the current year.

TJX Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, February 27th that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio (DPR) is presently 43.60%.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, January 28th. MKM Partners raised their price objective on shares of TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Robert W. Baird assumed coverage on shares of TJX Companies in a research note on Monday. They issued an “outperform” rating and a $63.00 price objective on the stock. Morgan Stanley raised their price objective on shares of TJX Companies from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, February 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of TJX Companies in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.87.

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TJX Companies 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, 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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Institutional Ownership by Quarter for TJX Companies (NYSE:TJX)

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