Nachman Norwood & Parrott Inc purchased a new position in TJX Companies Inc (NYSE:TJX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,452 shares of the apparel and home fashions retailer’s stock, valued at approximately $237,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TJX. 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 valued at $492,000 after purchasing an additional 190 shares during the last quarter. Webster Bank N. A. grew its stake in TJX Companies by 10.3% during the 1st quarter. Webster Bank N. A. now owns 2,446 shares of the apparel and home fashions retailer’s stock valued at $130,000 after purchasing an additional 228 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 valued at $26,000 after purchasing 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 valued at $27,000 after purchasing an additional 300 shares during the last quarter. Finally, 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 valued at $29,000 after purchasing an additional 325 shares during the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Scott Goldenberg sold 37,248 shares of the stock in a transaction that occurred on 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 directly owns 195,712 shares in the company, valued at $10,548,876.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane sold 1,625 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was 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 owns 29,467 shares of the company’s stock, valued at $1,561,751. The disclosure for this sale can be found here. Insiders sold 84,498 shares of company stock valued at $4,558,772 over the last quarter. 0.20% of the stock is currently owned by company insiders.
TJX has been the topic of several research analyst reports. Argus boosted their price target on TJX Companies to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, January 28th. Cfra upgraded TJX Companies to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, February 28th. MKM Partners boosted their price target on TJX Companies from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, Loop Capital boosted their price target on TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.34.
Shares of TJX Companies stock opened at $54.49 on Wednesday. The company has a market capitalization of $65.88 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.90 and a beta of 0.66. TJX Companies Inc has a fifty-two week low of $40.65 and a fifty-two week 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.
TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.09). The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations 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 was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 earnings per share. Equities research analysts predict that TJX Companies Inc will post 2.61 EPS for the current year.
TJX Companies declared that its board has approved 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 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.69%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, May 15th. TJX Companies’s dividend payout ratio is presently 36.97%.
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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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