Avalon Trust Co Lowers Holdings in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Avalon Trust Co reduced its stake in The TJX Companies by 48.8% in the 1st quarter, owning 107,312 shares after selling 102,155 shares, which now constitutes approximately 1.0% of its total holdings.
• The TJX Companies reported earnings of $0.92 per share for the quarter, surpassing analysts' estimates of $0.90, with a 5.1% increase in quarterly revenue year-over-year.
• Investors should note that TJX Companies announced a quarterly dividend of $0.425 per share, with a dividend yield of 1.4% and a payout ratio of 40%.

Avalon Trust Co decreased its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 48.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,312 shares of the apparel and home fashions retailer's stock after selling 102,155 shares during the quarter. TJX Companies makes up approximately 1.0% of Avalon Trust Co's holdings, making the stock its 29th largest holding. Avalon Trust Co's holdings in TJX Companies were worth $13,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TCTC Holdings LLC grew its holdings in shares of TJX Companies by 210.1% during the 1st quarter. TCTC Holdings LLC now owns 214 shares of the apparel and home fashions retailer's stock worth $26,000 after purchasing an additional 145 shares during the period. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of 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 worth $36,000 after purchasing an additional 110 shares during the period. Iron Horse Wealth Management LLC grew its holdings in shares of 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 worth $36,000 after purchasing an additional 149 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of TJX Companies during the 1st quarter worth about $37,000. Finally, Rialto Wealth Management LLC grew its holdings in shares of 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 worth $42,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 91.09% of the company's stock.

TJX Companies Stock Performance

Shares of TJX opened at $125.89 on Friday. The business's 50 day moving average is $125.01 and its two-hundred day moving average is $124.49. The TJX Companies, Inc. has a 52-week low of $107.71 and a 52-week high of $135.85. The firm has a market cap of $140.63 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.94 and a beta of 0.89. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 0.34.

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

TJX Companies Announces Dividend

The company also recently declared 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. This represents a $1.70 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 14th. TJX Companies's dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TJX shares. BMO Capital Markets reiterated an "outperform" rating on shares of TJX Companies in a report on Wednesday, May 21st. Citigroup upgraded TJX Companies from a "neutral" rating to a "buy" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on TJX Companies from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Daiwa America raised TJX Companies to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised TJX Companies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $141.06.

Insider Activity

In related news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total transaction of $121,685.50. Following the sale, the director directly owned 22,712 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

TJX Companies Company 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.

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