Connor Clark & Lunn Investment Management Ltd. Invests $22.56 Million in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. invested approximately $22.56 million in The TJX Companies, acquiring 185,189 shares in the first quarter.
• The majority of TJX's stock (91.09%) is held by institutional investors and hedge funds, with Vanguard Group increasing its stake by 1.1% during the same period.
• Analysts have generally rated TJX Companies stock positively, with the average rating being a "Buy" and a consensus target price of $141.06.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 185,189 shares of the apparel and home fashions retailer's stock, valued at approximately $22,556,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of TJX Companies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 100,413,764 shares of the apparel and home fashions retailer's stock valued at $12,230,396,000 after purchasing an additional 1,099,129 shares during the period. Capital International Investors raised its stake in TJX Companies by 4.5% during the 4th quarter. Capital International Investors now owns 14,647,792 shares of the apparel and home fashions retailer's stock valued at $1,769,600,000 after acquiring an additional 626,739 shares during the last quarter. Northern Trust Corp raised its stake in TJX Companies by 15.2% during the 4th quarter. Northern Trust Corp now owns 13,985,826 shares of the apparel and home fashions retailer's stock valued at $1,689,628,000 after acquiring an additional 1,845,225 shares during the last quarter. Royal Bank of Canada raised its stake in TJX Companies by 12.9% during the 4th quarter. Royal Bank of Canada now owns 12,300,919 shares of the apparel and home fashions retailer's stock valued at $1,486,074,000 after acquiring an additional 1,403,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in TJX Companies by 10.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,187,824 shares of the apparel and home fashions retailer's stock valued at $1,230,791,000 after acquiring an additional 1,005,260 shares during the last quarter. 91.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Amy B. Lane sold 950 shares of TJX Companies stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total value of $121,685.50. Following the transaction, the director owned 22,712 shares in the company, valued at approximately $2,909,180.08. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen raised TJX Companies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Daiwa America raised TJX Companies to a "strong-buy" rating in a research note on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating and set a $164.00 price objective (up from $154.00) on shares of TJX Companies in a research note on Thursday, May 22nd. Daiwa Capital Markets began coverage on TJX Companies in a research note on Tuesday, July 8th. They set an "outperform" rating and a $133.00 price objective for the company. Finally, TD Securities increased their target price on TJX Companies from $140.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $141.06.

TJX Companies Price Performance

Shares of NYSE:TJX opened at $131.64 on Friday. The business's fifty day moving average price is $125.41 and its two-hundred day moving average price is $124.79. The stock has a market cap of $147.06 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.51 and a current ratio of 1.16. The TJX Companies, Inc. has a one year low of $107.71 and a one year high of $135.85.

TJX Companies (NYSE:TJX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The business had revenue of $13.11 billion for the quarter, compared to analysts' expectations of $13.01 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. On average, 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 announced 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. The ex-dividend date is Thursday, August 14th. This represents a $1.70 dividend on an annualized basis and a yield of 1.3%. TJX Companies's dividend payout ratio (DPR) is presently 40.00%.

About TJX Companies

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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