Primecap Management Co. CA Has $1.43 Billion Position in The TJX Companies, Inc. (NYSE:TJX)

Key Points

• Primecap Management Co. CA reduced its stake in The TJX Companies by 2.5%, selling 302,300 shares, leaving it with approximately 11.7 million shares valued at around $1.43 billion.
• The TJX Companies reported a quarterly earnings per share (EPS) of $0.92, exceeding the consensus estimate of $0.90, with revenues of $13.11 billion, marking a 5.1% increase year-over-year.
• The company has announced a quarterly dividend of $0.425 per share, suggesting a yield of 1.3%, with a payout ratio currently set at 40.00%.

Primecap Management Co. CA lowered its position in shares of The TJX Companies, Inc. (NYSE:TJX - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,701,067 shares of the apparel and home fashions retailer's stock after selling 302,300 shares during the quarter. TJX Companies comprises 1.2% of Primecap Management Co. CA's portfolio, making the stock its 23rd largest position. Primecap Management Co. CA owned approximately 1.05% of TJX Companies worth $1,425,190,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Clear Creek Financial Management LLC lifted its position in TJX Companies by 1.8% in the first quarter. Clear Creek Financial Management LLC now owns 4,811 shares of the apparel and home fashions retailer's stock worth $586,000 after purchasing an additional 83 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of TJX Companies by 2.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 3,986 shares of the apparel and home fashions retailer's stock worth $485,000 after acquiring an additional 86 shares during the period. Amplius Wealth Advisors LLC lifted its holdings in shares of TJX Companies by 4.2% during the 1st quarter. Amplius Wealth Advisors LLC now owns 2,324 shares of the apparel and home fashions retailer's stock worth $283,000 after acquiring an additional 93 shares during the period. Aaron Wealth Advisors LLC boosted its position in shares of TJX Companies by 0.7% during the 1st quarter. Aaron Wealth Advisors LLC now owns 14,156 shares of the apparel and home fashions retailer's stock valued at $1,724,000 after acquiring an additional 96 shares in the last quarter. Finally, Horizon Wealth Management LLC increased its stake in TJX Companies by 2.0% in the first quarter. Horizon Wealth Management LLC now owns 4,945 shares of the apparel and home fashions retailer's stock valued at $602,000 after acquiring an additional 99 shares during the period. Institutional investors own 91.09% of the company's stock.

Insider Activity at TJX Companies

In related news, Director Amy B. Lane sold 950 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

TJX Companies Trading Down 0.1%

NYSE:TJX traded down $0.13 during trading hours on Thursday, hitting $131.97. 6,152,817 shares of the stock were exchanged, compared to its average volume of 4,722,042. The company has a market capitalization of $147.42 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 3.08 and a beta of 0.89. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $125.32 and its two-hundred day moving average is $124.71. The TJX Companies, Inc. has a twelve month low of $107.71 and a twelve month high of $135.85.

TJX Companies (NYSE:TJX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $13.11 billion for the quarter, compared to analyst estimates of $13.01 billion. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, sell-side analysts anticipate that The TJX Companies, Inc. will post 4.18 earnings per share for the current fiscal year.

TJX Companies Dividend Announcement

The firm also recently declared 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%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Daiwa America upgraded shares of TJX Companies to a "strong-buy" rating in a research note on Tuesday, July 8th. Cowen reissued a "buy" rating on shares of TJX Companies in a report on Tuesday, May 20th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of TJX Companies in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on TJX Companies from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Morgan Stanley set a $140.00 price objective on TJX Companies and gave the company an "overweight" rating in a 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $141.06.

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.