Principal Financial Group Inc. raised its holdings in shares of TJX Companies Inc (NYSE:TJX) by 0.4% in the 1st quarter, Holdings Channel reports. The fund owned 2,280,734 shares of the apparel and home fashions retailer’s stock after purchasing an additional 9,466 shares during the quarter. Principal Financial Group Inc.’s holdings in TJX Companies were worth $121,358,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of TJX. Stone House Investment Management LLC acquired a new position in shares of TJX Companies in the 1st quarter valued at $25,000. CSU Producer Resources Inc. acquired a new position in shares of TJX Companies in the 1st quarter valued at $27,000. Financial Gravity Wealth Inc. acquired a new position in shares of TJX Companies in the 1st quarter valued at $30,000. Nalls Sherbakoff Group LLC acquired a new position in shares of TJX Companies in the 4th quarter valued at $25,000. Finally, Westside Investment Management Inc. grew its holdings in shares of TJX Companies by 100.0% in 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 buying an additional 300 shares during the period. Institutional investors own 89.13% of the company’s stock.
NYSE:TJX traded down $0.08 on Wednesday, hitting $51.98. 107,866 shares of the company’s stock were exchanged, compared to its average volume of 6,079,768. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.23 and a quick ratio of 0.46. TJX Companies Inc has a 52 week low of $41.49 and a 52 week high of $56.64. The stock has a market capitalization of $63.06 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.72.
TJX Companies (NYSE:TJX) last issued its quarterly earnings results on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. TJX Companies had a net margin of 7.69% and a return on equity of 57.47%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.21 billion. During the same period in the previous year, the firm posted $1.13 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that TJX Companies Inc will post 2.62 earnings per share for the current fiscal year.
TJX Companies announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 27th that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.92 annualized dividend and a yield of 1.77%. TJX Companies’s dividend payout ratio (DPR) is presently 43.60%.
In other TJX Companies news, Director Amy B. Lane sold 1,625 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $54.00, for a total transaction of $87,750.00. Following the sale, the director now directly owns 27,842 shares of the company’s stock, valued at approximately $1,503,468. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Sherr sold 1,480 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $51.35, for a total transaction of $75,998.00. Following the sale, the executive vice president now directly owns 117,228 shares in the company, valued at $6,019,657.80. The disclosure for this sale can be found here. Insiders have sold a total of 109,978 shares of company stock worth $5,957,230 over the last three months. Insiders own 0.18% of the company’s stock.
Several brokerages have recently issued reports on TJX. Zacks Investment Research raised shares of TJX Companies from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, May 1st. Argus boosted their price target on shares of TJX Companies to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Robert W. Baird started coverage on shares of TJX Companies in a research note on Monday, May 13th. They issued an “outperform” rating and a $63.00 target price for the company. Credit Suisse Group upped their target price on shares of TJX Companies from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Nomura upped their target price on shares of TJX Companies from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.46.
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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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