King Luther Capital Management Corp Increases Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• King Luther Capital Management Corp increased its stake in The TJX Companies by 11.4%, acquiring an additional 6,461 shares, bringing its total holdings to 63,234 shares valued at approximately $7.7 million.
• TJX Companies reported a quarterly earnings beat, with $0.92 EPS exceeding analysts' expectations of $0.90, alongside a revenue of $13.11 billion.
• The company announced a quarterly dividend of $0.425, which represents an annualized dividend of $1.70 and a yield of 1.3%, with a payout ratio of 40%.

King Luther Capital Management Corp lifted its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,234 shares of the apparel and home fashions retailer's stock after purchasing an additional 6,461 shares during the period. King Luther Capital Management Corp's holdings in TJX Companies were worth $7,702,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC boosted its holdings in shares of TJX Companies by 210.1% in the first quarter. TCTC Holdings LLC now owns 214 shares of the apparel and home fashions retailer's stock valued at $26,000 after purchasing an additional 145 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of TJX Companies by 58.8% in 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 buying an additional 110 shares during the period. Iron Horse Wealth Management LLC grew its position 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 buying an additional 149 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of TJX Companies during the first quarter valued at $37,000. Finally, Rialto Wealth Management LLC raised its holdings in shares of TJX Companies by 105.9% in the first 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. Hedge funds and other institutional investors own 91.09% of the company's stock.

Analyst Ratings Changes

TJX has been the topic of several research reports. Barclays reissued an "overweight" rating and set a $147.00 price objective (up from $137.00) on shares of TJX Companies in a report on Thursday, May 22nd. Wells Fargo & Company reissued an "equal weight" rating on shares of TJX Companies in a research report on Wednesday, May 21st. Citigroup raised TJX Companies from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 21st. Daiwa Capital Markets started coverage on shares of TJX Companies in a report on Tuesday, July 8th. They issued an "outperform" rating and a $133.00 target price for the company. Finally, Morgan Stanley set a $140.00 price target on shares of TJX Companies and gave the company an "overweight" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $141.33.

TJX Companies Price Performance

Shares of TJX Companies stock traded down $0.69 on Thursday, hitting $132.99. 3,763,158 shares of the company were exchanged, compared to its average volume of 5,292,745. The TJX Companies, Inc. has a 1-year low of $110.24 and a 1-year high of $135.85. The stock has a market capitalization of $148.56 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. The company has a 50-day moving average price of $125.72 and a 200 day moving average price of $124.99. 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 issued its earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $13.11 billion for the quarter, compared to the consensus estimate of $13.01 billion. TJX Companies had a net margin of 8.47% and a return on equity of 58.81%. TJX Companies's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. As a group, sell-side analysts predict that The TJX Companies, Inc. will post 4.18 earnings per share 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 1.3%. The ex-dividend date is Thursday, August 14th. TJX Companies's payout ratio is 40.00%.

Insider Transactions at TJX Companies

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

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.