Raymond James Financial Services Advisors Inc. reduced its stake in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,676,273 shares of the apparel and home fashions retailer's stock after selling 21,210 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.15% of TJX Companies worth $170,008,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in TJX. Stonegate Investment Group LLC raised its stake in TJX Companies by 3.5% during the 1st quarter. Stonegate Investment Group LLC now owns 429,280 shares of the apparel and home fashions retailer's stock worth $43,538,000 after buying an additional 14,533 shares during the period. Sutton Place Investors LLC acquired a new stake in TJX Companies in the 1st quarter valued at $1,827,000. Sapient Capital LLC raised its holdings in TJX Companies by 2.4% during the first quarter. Sapient Capital LLC now owns 125,964 shares of the apparel and home fashions retailer's stock worth $12,775,000 after buying an additional 2,975 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in shares of TJX Companies by 2.8% in the first quarter. Confluence Wealth Services Inc. now owns 6,512 shares of the apparel and home fashions retailer's stock valued at $660,000 after buying an additional 175 shares in the last quarter. Finally, Harbour Trust & Investment Management Co grew its holdings in shares of TJX Companies by 7.6% during the first quarter. Harbour Trust & Investment Management Co now owns 76,984 shares of the apparel and home fashions retailer's stock valued at $7,808,000 after buying an additional 5,462 shares during the last quarter. Institutional investors and hedge funds own 91.09% of the company's stock.
Analyst Ratings Changes
TJX has been the topic of several recent research reports. Redburn Atlantic cut shares of TJX Companies from a "buy" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research report on Monday, February 5th. UBS Group increased their target price on shares of TJX Companies from $95.00 to $104.00 and gave the company a "neutral" rating in a report on Friday, March 1st. The Goldman Sachs Group raised shares of TJX Companies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $100.00 to $110.00 in a research report on Thursday, April 25th. Telsey Advisory Group reissued an "outperform" rating and set a $105.00 target price on shares of TJX Companies in a research report on Wednesday, February 28th. Finally, BMO Capital Markets upped their target price on TJX Companies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.65.
Get Our Latest Stock Analysis on TJX Companies
TJX Companies Stock Performance
TJX Companies stock traded down $0.78 during mid-day trading on Tuesday, reaching $94.09. The company's stock had a trading volume of 5,117,005 shares, compared to its average volume of 5,054,806. The TJX Companies, Inc. has a 12-month low of $75.65 and a 12-month high of $102.84. The firm's fifty day moving average price is $97.20 and its two-hundred day moving average price is $94.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. The company has a market capitalization of $106.60 billion, a P/E ratio of 24.38, a PEG ratio of 2.48 and a beta of 0.86.
TJX Companies (NYSE:TJX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The business had revenue of $16.41 billion for the quarter, compared to analysts' expectations of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. Sell-side analysts predict that The TJX Companies, Inc. will post 4.07 EPS for the current fiscal year.
TJX Companies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.50 annualized dividend and a yield of 1.59%. This is a boost from TJX Companies's previous quarterly dividend of $0.33. TJX Companies's payout ratio is currently 34.46%.
TJX Companies announced that its board has initiated a share repurchase program on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Insiders Place Their Bets
In other news, CEO Ernie Herrman sold 20,000 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the transaction, the chief executive officer now directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total value of $266,248.02. Following the transaction, the executive vice president now directly owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the sale, the chief executive officer now owns 515,801 shares of the company's stock, valued at $51,053,982.98. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.
TJX Companies Profile
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Free Report)
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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