Parr Mcknight Wealth Management Group LLC Invests $4.38 Million in The TJX Companies, Inc. (NYSE:TJX)

Parr Mcknight Wealth Management Group LLC purchased a new position in The TJX Companies, Inc. (NYSE:TJX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,261 shares of the apparel and home fashions retailer's stock, valued at approximately $4,381,000.

Other hedge funds have also recently made changes to their positions in the company. Shell Asset Management Co. grew its stake in TJX Companies by 16.5% in the fourth quarter. Shell Asset Management Co. now owns 29,168 shares of the apparel and home fashions retailer's stock worth $3,524,000 after purchasing an additional 4,128 shares during the period. Pathstone Holdings LLC grew its stake in TJX Companies by 10.1% in the fourth quarter. Pathstone Holdings LLC now owns 736,616 shares of the apparel and home fashions retailer's stock worth $88,992,000 after purchasing an additional 67,853 shares during the period. Ethic Inc. grew its stake in TJX Companies by 21.1% in the fourth quarter. Ethic Inc. now owns 167,169 shares of the apparel and home fashions retailer's stock worth $20,196,000 after purchasing an additional 29,158 shares during the period. Fiduciary Trust Co grew its stake in shares of TJX Companies by 5.2% in the fourth quarter. Fiduciary Trust Co now owns 2,891,186 shares of the apparel and home fashions retailer's stock worth $349,284,000 after acquiring an additional 144,113 shares during the last quarter. Finally, Congress Asset Management Co. grew its stake in shares of TJX Companies by 1.1% in the fourth quarter. Congress Asset Management Co. now owns 1,228,840 shares of the apparel and home fashions retailer's stock worth $148,456,000 after acquiring an additional 13,036 shares during the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TJX Companies

In other news, CEO Ernie Herrman sold 23,428 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total value of $2,882,346.84. Following the completion of the sale, the chief executive officer now directly owns 484,189 shares in the company, valued at $59,569,772.67. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan M. Bennett sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total value of $988,240.00. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Cowen reissued a "buy" rating on shares of TJX Companies in a research note on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $147.00 price target (up from $137.00) on shares of TJX Companies in a report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price target on TJX Companies from $127.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, May 19th. UBS Group reissued a "buy" rating and issued a $164.00 target price (up previously from $154.00) on shares of TJX Companies in a report on Thursday, May 22nd. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of TJX Companies in a research report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.65.

TJX Companies Stock Up 1.7%

Shares of TJX traded up $2.15 during trading hours on Tuesday, hitting $127.85. The company had a trading volume of 7,080,531 shares, compared to its average volume of 5,338,578. The company has a market capitalization of $142.82 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. The TJX Companies, Inc. has a one year low of $101.01 and a one year high of $135.85. The company's fifty day moving average price is $126.16 and its two-hundred day moving average price is $123.68.

TJX Companies (NYSE:TJX - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The firm had revenue of $13.11 billion during the quarter, compared to analyst estimates of $13.01 billion. During the same period in the previous year, the company posted $0.93 EPS. The business's revenue for the quarter 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 earnings per share for the current fiscal year.

TJX Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a $0.425 dividend. This is an increase from TJX Companies's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, May 15th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.33%. TJX Companies's dividend payout ratio is presently 40.00%.

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.