The TJX Companies, Inc. (NYSE:TJX) Stake Raised by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its holdings in The TJX Companies, Inc. by 6.9%, acquiring an additional 12,598 shares, bringing its total to 196,188 shares valued at approximately $23.9 million.
• Recent upgrades and positive analyst ratings suggest favorable growth prospects for TJX, with an average target price set at $141.06 and an average rating of "Buy".
• The TJX Companies announced a quarterly dividend of $0.425, resulting in an annual yield of 1.35%, with a payout ratio of 40%.

Assetmark Inc. increased its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,188 shares of the apparel and home fashions retailer's stock after purchasing an additional 12,598 shares during the quarter. Assetmark Inc.'s holdings in TJX Companies were worth $23,896,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its holdings in TJX Companies by 58.8% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 297 shares of the apparel and home fashions retailer's stock valued at $36,000 after acquiring an additional 110 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in TJX Companies by 99.3% during the 1st quarter. Iron Horse Wealth Management LLC now owns 299 shares of the apparel and home fashions retailer's stock valued at $36,000 after acquiring an additional 149 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in TJX Companies during the 1st quarter valued at about $37,000. Rialto Wealth Management LLC increased its holdings in TJX Companies by 105.9% during the 1st quarter. Rialto Wealth Management LLC now owns 348 shares of the apparel and home fashions retailer's stock valued at $42,000 after acquiring an additional 179 shares in the last quarter. Finally, Proathlete Wealth Management LLC purchased a new position in TJX Companies during the 1st quarter valued at about $52,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

TJX Companies Stock Performance

TJX Companies stock traded up $0.03 during mid-day trading on Friday, reaching $126.29. The company's stock had a trading volume of 5,143,166 shares, compared to its average volume of 4,391,659. The TJX Companies, Inc. has a twelve month low of $107.71 and a twelve month high of $135.85. The firm has a market cap of $141.07 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 2.95 and a beta of 0.88. The company has a current ratio of 1.16, a quick ratio of 0.51 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $125.58 and a 200-day moving average price of $124.31.

TJX Companies (NYSE:TJX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. The company had revenue of $13.11 billion during the quarter, compared to the consensus estimate of $13.01 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts predict that The TJX Companies, Inc. will post 4.18 EPS for the current fiscal year.

TJX Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 14th. TJX Companies's payout ratio is currently 40.00%.

Insiders Place Their Bets

In related news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,909,180.08. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TJX shares. JPMorgan Chase & Co. raised their target price on shares of TJX Companies from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Cowen reaffirmed a "buy" rating on shares of TJX Companies in a research note on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $147.00 price target (up from $137.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Daiwa America raised shares of TJX Companies to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $145.00 price target on shares of TJX Companies in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TJX Companies currently has a consensus rating of "Buy" and an average target price of $141.06.

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.