First Business Financial Services Inc. reduced its position in shares of TJX Companies Inc (NYSE:TJX) by 1.9% during the 1st quarter, HoldingsChannel reports. The fund owned 17,275 shares of the apparel and home fashions retailer’s stock after selling 338 shares during the quarter. TJX Companies makes up about 0.2% of First Business Financial Services Inc.’s investment portfolio, making the stock its 29th biggest position. First Business Financial Services Inc.’s holdings in TJX Companies were worth $919,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Nalls Sherbakoff Group LLC acquired a new stake in TJX Companies in the fourth quarter worth $25,000. Stone House Investment Management LLC acquired a new position in shares of TJX Companies during the first quarter valued at $25,000. Adirondack Trust Co. increased its holdings in shares of TJX Companies by 100.0% during the fourth 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% during the fourth 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, Sterling Investment Advisors Ltd. increased its holdings in shares of TJX Companies by 100.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 660 shares of the apparel and home fashions retailer’s stock valued at $29,000 after purchasing an additional 330 shares during the period. 91.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of TJX stock opened at $53.04 on Friday. TJX Companies Inc has a fifty-two week low of $41.49 and a fifty-two week high of $56.64. The stock has a market cap of $64.01 billion, a P/E ratio of 25.14, a PEG ratio of 1.85 and a beta of 0.66. 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 announced 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). TJX Companies had a net margin of 7.85% and a return on equity of 57.42%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the business earned $1.30 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that TJX Companies Inc will post 2.61 EPS for the current fiscal year.
TJX Companies declared that its board has authorized a share buyback plan on Wednesday, February 27th that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the apparel and home fashions retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.92 annualized dividend 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 (DPR) is currently 43.60%.
In related news, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 is available at this link. Also, CFO Scott Goldenberg sold 37,248 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.90, for a total value of $2,007,667.20. Following the transaction, the chief financial officer now directly owns 195,712 shares of the company’s stock, valued at approximately $10,548,876.80. 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.
A number of brokerages have recently commented on TJX. Zacks Investment Research lowered TJX Companies from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Telsey Advisory Group raised TJX Companies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $51.00 to $56.00 in a report on Thursday, January 31st. Argus raised their price target on TJX Companies to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Robert W. Baird began coverage on TJX Companies in a report on Monday, May 13th. They set an “outperform” rating and a $63.00 price target on the stock. Finally, Morgan Stanley raised their price target on TJX Companies from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.87.
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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, 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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