Mesirow Financial Investment Management Inc. Increases Stock Position in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Mesirow Financial Investment Management Inc. increased its stake in The TJX Companies by 6.8% during Q1, owning 31,208 shares worth approximately $3.80 million.
• The TJX Companies reported $0.92 earnings per share for the last quarter, beating estimates, with revenue up 5.1% to $13.11 billion.
• A quarterly dividend of $0.425 per share has been announced, representing an annualized yield of 1.35% and a payout ratio of 40%.

Mesirow Financial Investment Management Inc. raised its holdings in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,208 shares of the apparel and home fashions retailer's stock after purchasing an additional 1,991 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in TJX Companies were worth $3,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Arkadios Wealth Advisors raised its position in shares of TJX Companies by 7.0% in the first quarter. Arkadios Wealth Advisors now owns 27,469 shares of the apparel and home fashions retailer's stock valued at $3,346,000 after buying an additional 1,798 shares during the last quarter. First National Trust Co raised its position in shares of TJX Companies by 1.1% in the first quarter. First National Trust Co now owns 85,015 shares of the apparel and home fashions retailer's stock valued at $10,355,000 after buying an additional 948 shares during the last quarter. Carl P. Sherr & Co. LLC raised its position in shares of TJX Companies by 1.8% in the first quarter. Carl P. Sherr & Co. LLC now owns 12,182 shares of the apparel and home fashions retailer's stock valued at $1,484,000 after buying an additional 220 shares during the last quarter. Tredje AP fonden raised its position in shares of TJX Companies by 11.8% in the first quarter. Tredje AP fonden now owns 507,311 shares of the apparel and home fashions retailer's stock valued at $61,790,000 after buying an additional 53,714 shares during the last quarter. Finally, Bayforest Capital Ltd raised its position in shares of TJX Companies by 26.0% in the first quarter. Bayforest Capital Ltd now owns 1,263 shares of the apparel and home fashions retailer's stock valued at $154,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays reissued an "overweight" rating and issued a $147.00 price objective (up previously from $137.00) on shares of TJX Companies in a research report on Thursday, May 22nd. Wall Street Zen raised shares of TJX Companies from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of TJX Companies from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Cowen reaffirmed a "buy" rating on shares of TJX Companies in a research report on Tuesday, May 20th. Finally, Robert W. Baird upped their price target on shares of TJX Companies from $140.00 to $143.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TJX Companies currently has an average rating of "Buy" and an average target price of $141.06.

TJX Companies Trading Up 1.1%

Shares of TJX Companies stock traded up $1.36 during trading hours on Friday, hitting $125.89. The company's stock had a trading volume of 4,855,347 shares, compared to its average volume of 4,410,306. The TJX Companies, Inc. has a 1-year low of $107.71 and a 1-year high of $135.85. The business has a fifty day moving average of $125.01 and a 200 day moving average of $124.45. The company has a market capitalization of $140.63 billion, a PE ratio of 29.62, a P/E/G ratio of 2.90 and a beta of 0.88. 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 released 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 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 analyst estimates of $13.01 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that The TJX Companies, Inc. will post 4.18 EPS for the current year.

TJX Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.425 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.70 annualized dividend and a dividend yield of 1.4%. TJX Companies's dividend payout ratio is 40.00%.

Insider Buying and Selling at TJX Companies

In other news, Director Amy B. Lane sold 950 shares of the company's stock in a transaction on 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 transaction, the director directly owned 22,712 shares in the company, valued at approximately $2,909,180.08. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company's stock.

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.