Elkhorn Investments LLC bought a new stake in shares of TJX Companies (NYSE:TJX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,373 shares of the apparel and home fashions retailer’s stock, valued at approximately $1,008,000.
A number of other hedge funds have also made changes to their positions in TJX. Zions Bancorporation increased its holdings in TJX Companies by 185.9% during the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock valued at $100,000 after buying an additional 883 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of TJX Companies in the fourth quarter worth approximately $109,000. Truewealth LLC bought a new position in shares of TJX Companies in the fourth quarter worth approximately $119,000. Assetmark Inc. boosted its position in shares of TJX Companies by 50.3% in the fourth quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock worth $152,000 after purchasing an additional 664 shares during the period. Finally, Premia Global Advisors LLC bought a new position in shares of TJX Companies in the fourth quarter worth approximately $160,000. 90.95% of the stock is owned by institutional investors and hedge funds.
In other TJX Companies news, CEO Ernie Herrman sold 12,835 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $82.26, for a total transaction of $1,055,807.10. Following the completion of the transaction, the chief executive officer now owns 431,986 shares in the company, valued at $35,535,168.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane sold 1,000 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $82.81, for a total transaction of $82,810.00. Following the completion of the sale, the director now directly owns 15,998 shares in the company, valued at approximately $1,324,794.38. The disclosure for this sale can be found here. Insiders have sold 77,855 shares of company stock valued at $6,502,443 in the last quarter. 0.23% of the stock is owned by company insiders.
A number of equities analysts have weighed in on TJX shares. Cowen set a $88.00 price target on shares of TJX Companies and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Guggenheim reiterated a “buy” rating and issued a $86.00 price target on shares of TJX Companies in a research report on Friday, December 15th. Wells Fargo lowered shares of TJX Companies from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $76.00 to $72.00 in a research report on Wednesday, January 3rd. Nomura reiterated a “buy” rating and issued a $87.00 price target (up from $75.00) on shares of TJX Companies in a research report on Wednesday, January 17th. Finally, Zacks Investment Research upgraded shares of TJX Companies from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Saturday, January 20th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $87.30.
Shares of NYSE:TJX opened at $83.44 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.66 and a quick ratio of 0.84. TJX Companies has a fifty-two week low of $66.44 and a fifty-two week high of $85.21. The firm has a market cap of $53,094.45, a P/E ratio of 20.65, a P/E/G ratio of 1.68 and a beta of 0.67.
TJX Companies (NYSE:TJX) last issued its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.10. TJX Companies had a net margin of 7.27% and a return on equity of 55.23%. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. TJX Companies’s revenue for the quarter was up 15.8% on a year-over-year basis. research analysts anticipate that TJX Companies will post 4.83 earnings per share for the current year.
TJX Companies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 28th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the apparel and home fashions retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 17th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.87%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.31. TJX Companies’s dividend payout ratio (DPR) is 30.94%.
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TJX Companies Profile
The TJX Companies, Inc operates as an off-price apparel and home fashions retailer in the United States and internationally. 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, and giftware; seasonal items; jewelry; and other merchandise.
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