Primecap Management Co. CA Cuts Stock Holdings in The TJX Companies, Inc. (NYSE:TJX)

Primecap Management Co. CA reduced its position in The TJX Companies, Inc. (NYSE:TJX - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,491,848 shares of the apparel and home fashions retailer's stock after selling 75,800 shares during the period. Primecap Management Co. CA owned about 1.18% of TJX Companies worth $1,265,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TJX. Bedel Financial Consulting Inc. boosted its holdings in shares of TJX Companies by 3.4% during the 4th quarter. Bedel Financial Consulting Inc. now owns 3,190 shares of the apparel and home fashions retailer's stock valued at $299,000 after acquiring an additional 104 shares during the last quarter. Tandem Investment Advisors Inc. boosted its holdings in shares of TJX Companies by 1.8% during the 4th quarter. Tandem Investment Advisors Inc. now owns 5,846 shares of the apparel and home fashions retailer's stock valued at $548,000 after acquiring an additional 106 shares during the last quarter. Alhambra Investment Management LLC lifted its holdings in TJX Companies by 2.0% in the fourth quarter. Alhambra Investment Management LLC now owns 5,433 shares of the apparel and home fashions retailer's stock valued at $510,000 after acquiring an additional 108 shares during the period. J.Safra Asset Management Corp boosted its position in TJX Companies by 9.9% in the fourth quarter. J.Safra Asset Management Corp now owns 1,196 shares of the apparel and home fashions retailer's stock worth $112,000 after purchasing an additional 108 shares during the last quarter. Finally, BSW Wealth Partners grew its stake in shares of TJX Companies by 2.0% during the 4th quarter. BSW Wealth Partners now owns 5,623 shares of the apparel and home fashions retailer's stock valued at $528,000 after purchasing an additional 109 shares during the period. 91.09% of the stock is owned by institutional investors.

Insider Activity at TJX Companies

In related news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total value of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares of the company's stock, valued at approximately $4,968,480.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ernie Herrman sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the completion of the sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Louise Greenlees sold 2,694 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the sale, the executive vice president now owns 50,273 shares of the company's stock, valued at $4,968,480.59. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

TJX Companies Price Performance

TJX stock traded up $1.98 during mid-day trading on Friday, hitting $102.14. The company had a trading volume of 5,595,910 shares, compared to its average volume of 5,243,712. The company has a market capitalization of $115.72 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 2.72 and a beta of 0.87. The company has a 50-day moving average price of $97.27 and a 200 day moving average price of $95.09. The company has a quick ratio of 0.64, a current ratio of 1.23 and a debt-to-equity ratio of 0.38. The TJX Companies, Inc. has a 12-month low of $75.65 and a 12-month high of $104.98.

TJX Companies (NYSE:TJX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.06. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The company had revenue of $12.48 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The firm's revenue was up 5.9% on a year-over-year basis. On average, research analysts anticipate that The TJX Companies, Inc. will post 4.05 earnings per share for the current year.

TJX Companies declared that its board has approved a share repurchase plan on Wednesday, February 28th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

TJX Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.47%. This is a positive change from TJX Companies's previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 15th. TJX Companies's dividend payout ratio (DPR) is presently 37.22%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TJX. TD Cowen increased their price objective on shares of TJX Companies from $119.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, May 17th. Evercore ISI set a $113.00 price objective on shares of TJX Companies in a research report on Tuesday. The Goldman Sachs Group upgraded 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 note on Thursday, April 25th. UBS Group lifted their target price on TJX Companies from $132.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Redburn Atlantic cut TJX Companies from a "buy" rating to a "neutral" rating and set a $100.00 price target for the company. in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.05.

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.

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