Alteri Wealth LLC Invests $293,000 in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Alteri Wealth LLC has acquired 2,405 shares of The TJX Companies, Inc., valued at approximately $293,000, as part of its new position in the apparel and home fashions retailer.
• Several institutional investors significantly increased their stakes in TJX Companies during the last quarter, with a combined ownership of 91.09% of the company by hedge funds and institutional investors.
• Analyst ratings for TJX Companies are predominantly positive, with 19 buy ratings, an average target price of $141.06, and recent price targets being raised by various firms.

Alteri Wealth LLC purchased a new position in The TJX Companies, Inc. (NYSE:TJX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,405 shares of the apparel and home fashions retailer's stock, valued at approximately $293,000.

A number of other large investors have also added to or reduced their stakes in the company. Shell Asset Management Co. raised its holdings in TJX Companies by 16.5% in the fourth quarter. Shell Asset Management Co. now owns 29,168 shares of the apparel and home fashions retailer's stock worth $3,524,000 after purchasing an additional 4,128 shares in the last quarter. Pathstone Holdings LLC boosted its position in TJX Companies by 10.1% during the fourth quarter. Pathstone Holdings LLC now owns 736,616 shares of the apparel and home fashions retailer's stock worth $88,992,000 after purchasing an additional 67,853 shares in the last quarter. Ethic Inc. lifted its position in shares of TJX Companies by 21.1% in the fourth quarter. Ethic Inc. now owns 167,169 shares of the apparel and home fashions retailer's stock valued at $20,196,000 after acquiring an additional 29,158 shares in the last quarter. Fiduciary Trust Co lifted its position in shares of TJX Companies by 5.2% in the fourth quarter. Fiduciary Trust Co now owns 2,891,186 shares of the apparel and home fashions retailer's stock valued at $349,284,000 after acquiring an additional 144,113 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of TJX Companies by 2.2% in the first quarter. Pinnacle Financial Partners Inc now owns 387,342 shares of the apparel and home fashions retailer's stock valued at $46,989,000 after purchasing an additional 8,319 shares during the period. Institutional investors own 91.09% of the company's stock.

Insiders Place Their Bets

In other news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $128.09, for a total value of $121,685.50. Following the completion of the sale, the director owned 22,712 shares in the company, valued at $2,909,180.08. This represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

TJX has been the subject of a number of recent research reports. UBS Group reiterated a "buy" rating and issued a $164.00 target price (up from $154.00) on shares of TJX Companies in a report on Thursday, May 22nd. Citigroup upgraded TJX Companies from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 21st. Telsey Advisory Group reissued an "outperform" rating and set a $145.00 price target on shares of TJX Companies in a research note on Wednesday, May 21st. TD Securities upped their target price on TJX Companies from $140.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, Robert W. Baird boosted their price target on TJX Companies from $140.00 to $143.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $141.06.

TJX Companies Stock Performance

TJX stock traded up $1.06 during trading hours on Tuesday, reaching $126.45. The stock had a trading volume of 5,543,283 shares, compared to its average volume of 5,350,887. The stock has a market capitalization of $141.26 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.51. The stock has a 50-day simple moving average of $125.39 and a 200 day simple moving average of $124.35. The TJX Companies, Inc. has a fifty-two week low of $107.71 and a fifty-two week high of $135.85.

TJX Companies (NYSE:TJX - Get Free Report) last released its earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $13.11 billion for the quarter, compared to analyst estimates of $13.01 billion. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.34%. TJX Companies's payout ratio is presently 40.00%.

TJX Companies Profile

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. 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, and gourmet food departments; jewelry and accessories; and other merchandise.