GKV Capital Management Co. Inc. Cuts Stake in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• GKV Capital Management Co. Inc. significantly reduced its stake in The TJX Companies, Inc. by 99.2% during the first quarter, leaving it with only 280 shares valued at $34,000.
• Multiple hedge funds have increased their investments in TJX, with Nuveen LLC purchasing a new stake worth about $1.33 billion and GAMMA Investing LLC raising its position by over 14,000%.
• Brokerages are bullish on TJX, with analysts raising target prices and maintaining a consensus rating of "Buy", driven by recent earnings that surpassed expectations.

GKV Capital Management Co. Inc. cut its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 99.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280 shares of the apparel and home fashions retailer's stock after selling 36,179 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in TJX Companies were worth $34,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of TJX Companies during the first quarter worth about $1,330,717,000. GAMMA Investing LLC increased its position in shares of TJX Companies by 14,486.1% during the first quarter. GAMMA Investing LLC now owns 2,912,116 shares of the apparel and home fashions retailer's stock worth $354,696,000 after acquiring an additional 2,892,151 shares during the last quarter. Capital Research Global Investors increased its position in shares of TJX Companies by 689.6% during the fourth quarter. Capital Research Global Investors now owns 2,595,085 shares of the apparel and home fashions retailer's stock worth $313,512,000 after acquiring an additional 2,266,415 shares during the last quarter. Northern Trust Corp increased its position in shares of TJX Companies by 15.2% during the fourth quarter. Northern Trust Corp now owns 13,985,826 shares of the apparel and home fashions retailer's stock worth $1,689,628,000 after acquiring an additional 1,845,225 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of TJX Companies by 12.9% during the fourth quarter. Royal Bank of Canada now owns 12,300,919 shares of the apparel and home fashions retailer's stock worth $1,486,074,000 after acquiring an additional 1,403,561 shares during the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TJX. JPMorgan Chase & Co. lifted their target price on TJX Companies from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $150.00 target price on shares of TJX Companies in a research report on Wednesday. Citigroup upgraded TJX Companies from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 21st. Macquarie reiterated a "buy" rating on shares of TJX Companies in a research note on Monday. Finally, Daiwa Capital Markets assumed coverage on TJX Companies in a research note on Tuesday, July 8th. They issued an "outperform" rating and a $133.00 price target for the company. One equities research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $141.33.

TJX Companies Stock Performance

Shares of NYSE TJX opened at $134.07 on Thursday. 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 stock has a 50 day simple moving average of $125.72 and a 200-day simple moving average of $124.99. The company has a market cap of $149.77 billion, a PE ratio of 31.55, a P/E/G ratio of 3.11 and a beta of 0.89. The TJX Companies, Inc. has a 12-month low of $107.71 and a 12-month high of $135.85.

TJX Companies (NYSE:TJX - Get Free Report) last issued 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. The business had revenue of $13.11 billion during the quarter, compared to the consensus estimate of $13.01 billion. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, equities research analysts forecast that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.70 annualized dividend and a dividend yield of 1.3%. TJX Companies's payout ratio is currently 40.00%.

Insider Activity

In other TJX Companies 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 value of $121,685.50. Following the completion of the sale, the director directly owned 22,712 shares in the company, 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 at 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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