Belpointe Asset Management LLC raised its position in TJX Companies Inc (NYSE:TJX) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,300 shares of the apparel and home fashions retailer’s stock after acquiring an additional 2,925 shares during the quarter. Belpointe Asset Management LLC’s holdings in TJX Companies were worth $761,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TJX. BlackRock Inc. grew its position in TJX Companies by 113.3% in the 4th quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock valued at $4,038,232,000 after acquiring an additional 47,939,993 shares in the last quarter. FMR LLC boosted its stake in shares of TJX Companies by 106.0% in the 4th quarter. FMR LLC now owns 51,478,425 shares of the apparel and home fashions retailer’s stock valued at $2,303,144,000 after buying an additional 26,485,840 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of TJX Companies by 13,963.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,176,882 shares of the apparel and home fashions retailer’s stock valued at $585,000 after buying an additional 25,990,744 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of TJX Companies by 77.9% in the 4th quarter. Bank of New York Mellon Corp now owns 33,050,653 shares of the apparel and home fashions retailer’s stock valued at $1,478,686,000 after buying an additional 14,469,980 shares during the period. Finally, Norges Bank purchased a new position in shares of TJX Companies in the 4th quarter valued at about $545,373,000. 89.13% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, May 1st. Argus lifted their price objective on TJX Companies to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird assumed coverage on TJX Companies in a research note on Monday, May 13th. They issued an “outperform” rating and a $63.00 price objective for the company. Credit Suisse Group lifted their price objective on TJX Companies from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Nomura boosted their target price on TJX Companies from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. One investment 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 a consensus rating of “Buy” and an average target price of $56.46.
TJX opened at $53.34 on Monday. The company has a market cap of $64.68 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.86 and a beta of 0.72. TJX Companies Inc has a 52 week low of $41.49 and a 52 week high of $56.64. The company has a current ratio of 1.23, a quick ratio of 0.46 and a debt-to-equity ratio of 1.92.
TJX Companies (NYSE:TJX) last released 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. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.21 billion. TJX Companies had a return on equity of 57.47% and a net margin of 7.69%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. Equities analysts predict that TJX Companies Inc will post 2.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, August 14th. TJX Companies’s payout ratio is currently 43.60%.
TJX Companies declared that its board has initiated a share buyback plan on Wednesday, February 27th that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, CFO Scott Goldenberg sold 37,248 shares of the business’s 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 transaction, the chief financial officer now owns 195,712 shares of the company’s stock, valued at $10,548,876.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Canestrari sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $54.97, for a total value of $1,374,250.00. Following the completion of the transaction, the executive vice president now directly owns 134,675 shares in the company, valued at approximately $7,403,084.75. The disclosure for this sale can be found here. In the last three months, insiders sold 129,978 shares of company stock worth $7,001,230. Corporate insiders own 0.18% of the company’s stock.
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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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