Alecta Pensionsforsakring Omsesidigt decreased its stake in shares of TJX Companies (NYSE:TJX) by 11.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,057,538 shares of the apparel and home fashions retailer’s stock after selling 1,025,000 shares during the quarter. TJX Companies comprises 5.7% of Alecta Pensionsforsakring Omsesidigt’s holdings, making the stock its 5th largest position. Alecta Pensionsforsakring Omsesidigt owned 1.29% of TJX Companies worth $657,253,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in TJX. Xact Kapitalforvaltning AB increased its stake in TJX Companies by 5.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 117,337 shares of the apparel and home fashions retailer’s stock worth $8,972,000 after acquiring an additional 6,417 shares during the last quarter. LPL Financial LLC increased its stake in TJX Companies by 12.9% during the fourth quarter. LPL Financial LLC now owns 74,234 shares of the apparel and home fashions retailer’s stock worth $5,676,000 after acquiring an additional 8,506 shares during the last quarter. Norinchukin Bank The increased its stake in TJX Companies by 7.4% during the fourth quarter. Norinchukin Bank The now owns 50,873 shares of the apparel and home fashions retailer’s stock worth $3,890,000 after acquiring an additional 3,514 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in TJX Companies by 137.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 10,344 shares of the apparel and home fashions retailer’s stock worth $791,000 after acquiring an additional 5,983 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in TJX Companies during the fourth quarter worth $250,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.
Several research firms have issued reports on TJX. OTR Global began coverage on TJX Companies in a research note on Tuesday, May 8th. They set a “positive” rating for the company. Deutsche Bank began coverage on TJX Companies in a research note on Monday, April 30th. They issued a “buy” rating and a $98.00 price objective for the company. Cowen set a $92.00 price objective on TJX Companies and gave the company a “buy” rating in a research note on Thursday, March 1st. Loop Capital began coverage on TJX Companies in a research note on Thursday, March 8th. They issued a “hold” rating and a $84.00 price objective for the company. Finally, BMO Capital Markets set a $94.00 price objective on TJX Companies and gave the company a “buy” rating in a research note on Thursday, March 1st. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $87.75.
TJX Companies opened at $86.27 on Friday, according to MarketBeat. TJX Companies has a 12 month low of $85.18 and a 12 month high of $87.27. The firm has a market cap of $53.66 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.72 and a beta of 0.66. The company has a quick ratio of 0.84, a current ratio of 1.66 and a debt-to-equity ratio of 0.43.
TJX Companies (NYSE:TJX) last released its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.10. TJX Companies had a return on equity of 55.23% and a net margin of 7.27%. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the previous year, the firm posted $1.03 EPS. TJX Companies’s revenue for the quarter was up 15.8% on a year-over-year basis. research analysts forecast that TJX Companies will post 4.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Thursday, May 17th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.81%. This is a boost from TJX Companies’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 16th. TJX Companies’s payout ratio is presently 38.61%.
TJX Companies announced that its Board of Directors has initiated a share buyback program on Wednesday, February 28th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the apparel and home fashions retailer to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other TJX Companies news, Director Amy B. Lane sold 1,000 shares of TJX Companies stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $82.81, for a total transaction of $82,810.00. Following the completion of the sale, the director now directly owns 15,998 shares of the company’s stock, valued at approximately $1,324,794.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernie Herrman sold 10,000 shares of TJX Companies stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $84.00, for a total value of $840,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 114,199 shares of company stock valued at $9,532,558 over the last three months. 0.22% of the stock is currently owned by insiders.
TJX Companies Company Profile
The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.
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