Stormborn Capital Management LLC boosted its position in shares of TJX Companies Inc (NYSE:TJX) by 31.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 145,000 shares of the apparel and home fashions retailer’s stock after acquiring an additional 35,000 shares during the period. TJX Companies makes up approximately 5.5% of Stormborn Capital Management LLC’s portfolio, making the stock its 4th largest position. Stormborn Capital Management LLC’s holdings in TJX Companies were worth $7,715,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC purchased a new position in TJX Companies during the fourth quarter valued at $25,000. Stone House Investment Management LLC purchased a new position in TJX Companies during the first quarter valued at $25,000. Westside Investment Management Inc. lifted its holdings in 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 in the last quarter. CSU Producer Resources Inc. purchased a new position in TJX Companies during the first quarter valued at $27,000. Finally, Financial Gravity Wealth Inc. purchased a new position in TJX Companies during the first quarter valued at $30,000. Institutional investors own 89.13% of the company’s stock.
In related news, Director David T. Ching sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $52.20, for a total transaction of $1,044,000.00. Following the completion of the sale, the director now directly owns 28,771 shares in the company, valued at $1,501,846.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Sherr sold 1,480 shares of the firm’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 owns 117,228 shares of the company’s stock, valued at $6,019,657.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,978 shares of company stock worth $7,001,230. Insiders own 0.18% of the company’s stock.
Several research firms have issued reports on TJX. Loop Capital increased their price objective on shares of TJX Companies from $47.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Nomura increased their price objective on shares of TJX Companies from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Zacks Investment Research raised shares of TJX Companies from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, May 24th. Cowen set a $63.00 price objective on shares of TJX Companies and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Credit Suisse Group increased their price objective on shares of TJX Companies from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.46.
Shares of NYSE:TJX traded up $0.52 during midday trading on Friday, hitting $53.34. The company’s stock had a trading volume of 5,459,311 shares, compared to its average volume of 6,918,236. The company has a current ratio of 1.23, a quick ratio of 0.46 and a debt-to-equity ratio of 1.92. The company has a market cap of $64.68 billion, a P/E ratio of 25.28, a P/E/G ratio of 1.86 and a beta of 0.72. TJX Companies Inc has a 12-month low of $41.49 and a 12-month high of $56.64.
TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.21 billion. TJX Companies had a net margin of 7.69% and a return on equity of 57.47%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. On average, analysts expect that TJX Companies Inc will post 2.62 earnings per share for the current year.
TJX Companies announced that its board has initiated a stock buyback 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 management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, August 14th. TJX Companies’s dividend payout ratio is currently 43.60%.
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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, 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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